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Eversource Energy has completed its sale of an uncommitted lease area off the south coast of Massachusetts to its joint venture (JV) partner Ørsted for USD 625 million. The all-cash transaction, which was announced in May, closed today following approval from the Committee on Foreign Investment in the United States. The deal with Eversource provides... Continue Reading →
(Reuters) Britain's latest subsidy auction for new renewable energy projects awarded no contracts for offshore wind projects, the results published on Friday showed, drawing criticism from opposition politicians and environmental campaigners. In a 2022 auction, offshore wind projects were the main recipient of funding, with 7 gigawatts (GW) awarded. Offshore wind power is a key... Continue Reading →
(Reuters) The value of Danish energy company Orsted, the world's largest offshore wind farm developer and a big player in the U.S., has plunged about 31% since it declared $2.3 billion in U.S. impairments in late August due to supply delays, high interest rates and a lack of new tax credits. The company is just one... Continue Reading →
(Reuters) The low interest in the first-ever auction of offshore wind farm development rights in the Gulf of Mexico marks a potentially serious setback for U.S. President Joe Biden’s green energy agenda, and the U.S. offshore wind sector in general. U.S. officials had touted the auction as a key milestone in Biden’s agenda to make... Continue Reading →
Philip Lewis, Contributor Only one of three available areas was sold during the United States' first ever offshore wind lease sale in the Gulf of Mexico on Tuesday. The auction, held my the Interior Department's Bureau of Ocean Energy Management (BOEM) offered up three sites for offshore wind development, including one in Louisiana (Lake Charles) and... Continue Reading →
(Reuters) The U.S. Gulf Coast region, the nation's primary offshore source of oil and gas, has cheap electricity and lacks state mandates for renewable energy procurement, making it an unlikely place to expand one of the most expensive forms of clean energy. That is why players in the nascent U.S. offshore wind industry are looking... Continue Reading →
(OE) The U.S. Department of the Interior's Bureau of Ocean Energy Management (BOEM) on Tuesday approved the construction of a 704-megawatt (MW) wind farm off the coast of Rhode Island, the fourth major offshore wind project the agency has greenlit as the Biden administration tries to meet a goal of bringing 30 gigawatts (GW) of... Continue Reading →
(OW) The US Bureau of Ocean Energy Management (BOEM) has identified two draft Wind Energy Areas (WEAs) offshore southern Oregon with which the federal agency plans to move forward and offer them in a lease sale, expected to take place in the first quarter of 2024. Avangrid, Ocean Winds, BlueFloat Energy, and Mainstream Renewable Power, as well... Continue Reading →
(OW) Atlantic Shores Offshore Wind, a 50:50 joint venture between Shell New Energies US and EDF-RE Offshore Development, has submitted a proposal to the New Jersey Board of Public Utilities (NJBPU) in the state’s third offshore wind solicitation. New Jersey opened the solicitation in March and is looking to award between 1.2 GW and 4... Continue Reading →
(OW) The US Bureau of Ocean Energy Management (BOEM) has announced three final wind energy areas (WEAs) offshore Delaware, Maryland, and Virginia, which, if fully developed, could support between 4 GW and 8 GW of offshore wind capacity. The three WEAs total approximately 356,550 acres. The first WEA (A-2) is 101,767 acres and is located... Continue Reading →
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