Boffo Offshore Wind Sale Moves Biden Closer to Goal, But Tough Currents Remain
In this article, the author summarizes the latest developments in the U.S. offshore wind market and then reviews some of the troubling waters ahead.
The Bureau of Ocean Energy Management (“BOEM”) recently announced the results of its mega offshore wind sale of six leases totaling over 488,000 acres in the New York Bight—the first sale in the Biden-Harris administration, which is committed to 30GW of offshore wind by 2030. The results from the auction lasting over three days were over $4 billion. The provisional winners are:
- OCS-A-0537—Ocean Winds East, LLC—$765 million;
- 2. OCS-A-0538—Attentive Energy, LLC—$795 million;
- 3. OCS-A-0539—Bight Wind Holdings, LLC—$1.1 billion;
- 4. OCS-A-0541—Atlantic Shores Offshore Wind Bight, LLC—$780 million;
- 5. OCS-A-0542—Invenergy Wind Offshore LLC—$645 million; and
- 6. OCS-A-0544—Mid-Atlantic Offshore Wind LLC—$285 million.
This sale represents the very serious interest that developers—and states—are taking in offshore wind, gambling that the permitting process will go smoothly.
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“Boffo Offshore Wind Sale Moves Biden Closer to Goal, But Tough Currents Remain,” by Joan M. Bondareff was published in the June 2022 edition of Pratt’s Energy Law Report (Vol. 22, No. 6), an A.S. Pratt Publication, LexisNexis. Reprinted with permission.
This article was first published in the March 2022 edition of Mainbrace, Blank Rome’s quarterly maritime newsletter.