Offshore Wind Auction Nets $93 Million

The Bureau of Ocean Energy Management's recent offshore wind auction generated $92.65 million for two lease areas off the coasts of Delaware, Maryland, and Virginia. Equinor Wind US won the Delaware and Maryland lease for $75 million, while Dominion Energy acquired the Virginia lease for approximately $18 million. This auction is a key step toward the Biden administration's goal of deploying 30 gigawatts of offshore wind energy by 2030. With this sale, the administration has now approved nine offshore wind projects capable of powering nearly 5 million homes. The auction also included $23 million in bidding credits aimed at workforce training and fisheries compensatory mitigation. The leases do not authorize immediate construction but allow the lessees to submit project plans for review.