EnergyWatch

US offshore wind auction at USD 285 million and growing

The auction's final round is postponed until Friday. The winners of three Massachusetts offshore wind auctions stand to pay at least USD 75,654 per MW.

It had no value three years ago. It is now worth more than USD 285 million. The price of the the three Massachusetts offshore wind sites on auction Thursday underscores above all else how vast confidence in the country's offshore wind sector has become. After a nine-hour auction parceled into 24 rounds, four bidders remain in competition for the three allocations, causing the finalization of the auction to be postponed until Friday.

This stands in sharp contrast to the US's Bureau of Ocean Energy Management's (BOEM) lease auction of the same sites from 2015, an auction in which no one placed bids. Meanwhile, the two adjacent sites were similarly up for lease following two undramatic rounds and were allocated to the only bidders which won licenses to the areas for less than USD 450,000.

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