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Five companies win California offshore wind energy leases

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The companies bid a total of $757.1 million for the 373,268 acres of ocean spaces where floating wind turbines can be erected to generate up to 4.5 gigawatts of electricity.

The Biden administration’s first-ever offshore wind energy lease sale for federal waters off the West Coast generated more than $750 million, as energy companies competed for five areas that could eventually be home toFive companies, including Equinor and Invenergy, bid on five lease areas totaling more than 370,000 acres off the coast of Northern and Central California. The two-day lease sale concluded on Wednesday.

The deep-water regions off the West Coast — and other coastal areas, including the Gulf of Maine — will require turbines to be installed on floating platforms and tethered to the sea floor. The platforms will also allow turbines to be installed farther from the coast. The lower bids in this week’s lease sale were due in part to the unique challenges of developing wind energy off the West Coast, Begala said. Because of the much deeper waters in Pacific, technology for floating offshore wind platforms is still being developed and tested.

 

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