Offshore Wind Bonanza Draws Bidding War in Record-Setting Sale
- More companies than ever bidding on offshore wind leases
- State renewable power pledges lure developers to U.S. waters
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Companies competed Thursday for the opportunity to install wind turbines in Atlantic waters off Massachusetts in an auction that shattered records even as it headed toward a second day of frenzied bidding.
After 24 rounds of sealed bidding, companies had already pledged $285 million toward the three offshore wind leases that are up for grabs -- more than six times the previous high-water mark: Norwegian energy company Equinor ASA’s $42.47 million bid in 2016 for the rights to build an offshore wind farm near New York.