Rental jackpot signals bullish outlook for U.S. offshore wind


By Keith Goldberg (March 1, 2022, 8:45 PM EST) — The record $4.4 billion sale of federal concessions off the coasts of New York and New Jersey is the strongest sign yet that the he offshore wind industry is firmly entrenched in the United States, indicating that developers will eagerly open their wallets for other federal waters the government plans to auction.

Last week, developers shelled out the money for six lease areas in the so-called New York Bight in the first offshore wind lease auction held by the Biden administration. Not only is the result a resounding endorsement of the administration’s aggressive goal to install 30 gigawatts of offshore wind power by 2030, but it…

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