Offshore Wind Leases Go On Sale

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

Filed under: 24/7 Wall St. Wire, Alternative Energy, China, Green Biz, Regulation
Read Full Story


NASDAQ 7,218.23 -16.08 -0.22%
S&P 500 2,701.33 -14.93 -0.55%
DJIA 24,797.78 -166.97 -0.67%
NIKKEI 225 21,970.81 45.71 0.21%
HANG SENG 31,431.89 558.26 1.81%
DAX 12,470.49 -17.41 -0.14%
USD (per EUR) 1.23 0.00 -0.35%
USD (per CHF) 0.94 0.00 0.23%
JPY (per USD) 107.72 0.34 0.32%
GBP (per USD) 1.39 -0.01 -0.54%

Can't get enough business news?

Sign up for Finance Report by AOL and get everything from retailer news to the latest IPOs delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.