Back to bight another day

Source: BY MATTHEW CHOI, Politico • Posted: Thursday, February 24, 2022

 The federal auction for offshore wind areas off the coast of New York and New Jersey will continue for at least another day, with 13 developers vying to secure one of six leases up for grabs. The last round for the day came in at a total of $1.5 billion, which is a record-breaker for a single offshore wind auction by the Bureau of Ocean Energy Management. There’s 488,201 acres on the auction block in a prime location where the water is shallow enough to anchor turbines to the ocean floor. Per acre prices for the most hotly contested areas are also eye-popping, far outstripping the previous 2018 record for leases off the Massachusetts coast.

The winning bidders will get to compete for lucrative contracts with New York, New Jersey and other states with offshore wind targets. One bidder dropped out after the 17th round of the auction. Bidding is set to resume at 9 a.m. this morning.