Offshore Wind Leases Go On Sale

Photo of Paul Ausick
By Paul Ausick Updated Published
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Offshore wind powerThe U.S. Department of the Interior’s Bureau of Ocean Energy Management (BOEM) has announced the first ever competitive lease sale of two offshore wind energy areas in federal waters. A date for the sale has not been set yet, but it is expected to take place in 2013.

The areas included in the sale are offshore of Rhode Island, Massachusetts, and Virgina and comprise a total of 277,550 acres. The BOEM estimates that the two areas are capable of supporting 4,000 megawatts wind generation, or enough to power 1.4 million homes.

The area offshore of Rhode Island and Massachusetts will be auctioned in two parcels, a North Zone of about 97,500 acres and a South Zone of about 67,250 acres located about 9.2 nautical miles south of the Rhode Island coast. The lease area offshore of Virginia is a single parcel of about 112,800 acres located about 23.5 nautical miles east of southern Virginia.

Public comments will be accepted until February 1st.

The BOEM did not speculate on possible bidders for the leases, but it is not unreasonable to expect at least one bid from a Chinese firm. China is the world leader installed wind generation capacity having passed the U.S. last year.

Paul Ausick

Photo of Paul Ausick
About the Author Paul Ausick →

Paul Ausick has been writing for a673b.bigscoots-temp.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.

He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.

Continue Reading

Top Gaining Stocks

CBOE Vol: 1,568,143
PSKY Vol: 12,285,993
STX Vol: 7,378,346
ORCL Vol: 26,317,675
DDOG Vol: 6,247,779

Top Losing Stocks

LKQ
LKQ Vol: 4,367,433
CLX Vol: 13,260,523
SYK Vol: 4,519,455
MHK Vol: 1,859,865
AMGN Vol: 3,818,618