financetom
Business
financetom
/
Business
/
Equinor, Dominion are winners in US Central Atlantic offshore wind auction
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Equinor, Dominion are winners in US Central Atlantic offshore wind auction
Aug 14, 2024 11:26 AM

(Reuters) - Norway's Equinor and U.S. power company Dominion were the winning bidders in a U.S. government offshore wind auction of two areas off the coasts of Delaware, Maryland and Virginia, the Interior Department said on Tuesday.

The offshore wind lease sale generated less than $93 million in winning bids, making it among the least lucrative of those held by the Biden administration.

U.S. President Joe Biden has put the development of offshore wind at the forefront of his climate change agenda, but the industry has stumbled in the last year due to soaring costs and supply chain disruptions.

Equinor bid $75 million for a 101,443-acre lease 26 miles from Delaware Bay. Dominion's Virginia Electric and Power Co won a 176,505-acre lease 35 miles from Chesapeake Bay for $17.65 million.

Last month, Interior's Bureau of Ocean Energy Management canceled a planned sale of offshore wind leases in the Gulf of Mexico due to a lack of industry interest. An auction held there last year resulted in the sale of just one of three offered leases for $5.6 million.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
This sustainable jewellery brand is luring some women away from gold
This sustainable jewellery brand is luring some women away from gold
Oct 30, 2023
Aulerth's offerings range from ₹5,000 to as high as ₹2.8 lakh. Are women willing to spend this much on jewellery made from scrap? Founder and CEO Vivek Ramabhadran definitely believes so. Aulerth produces couture-inspired pieces in association with designers like JJ Valaya, Suneet Varma, among others. It has reported 33% repeat customers in the past year and expects a spike to 40% soon.
Tata Power Renewable Energy wins 200-MW project in collaboration with SJVN
Tata Power Renewable Energy wins 200-MW project in collaboration with SJVN
Nov 28, 2023
The firm and dispatchable renewable energy (FDRE) project, designed with a hybrid of solar, wind, and battery storage, is aimed at providing a stable and dispatchable energy supply during peak hours. Shares of Tata Power Company Ltd ended at ₹270.75, up by ₹12.60, or 4.88%, on the BSE.
SJVN secures 200-MW wind power project at ₹3.24 per unit
SJVN secures 200-MW wind power project at ₹3.24 per unit
Nov 16, 2023
Projected to generate 482 million units in its inaugural year post-commissioning, the cumulative energy generation over a 25-year span is anticipated to reach 12,050 million units. Shares of SJVN Ltd ended at ₹75.17, down by ₹0.50, or 0.66%, on the BSE.
Suzlon's S144–3 MW wind turbines get big boost from Indian government
Suzlon's S144–3 MW wind turbines get big boost from Indian government
Nov 15, 2023
Th Suzlon wind turbines received the RLMM (Revised List of Models & Manufacturers) listing from the Ministry of New and Renewable Energy, marking an important milestone for the successful commercialisation of the product. Shares of Suzlon Energy Ltd ended at ₹40.49, up by ₹1.85, or 4.79%, on the BSE.
Copyright 2023-2026 - www.financetom.com All Rights Reserved