United States

United States

US Wind Inc wins Maryland offshore lease

UNITED STATES: US Wind Inc emerged as the winner in the US's third offshore wind competitive lease auction, bidding $8.7 million for the rights to develop two parcels off the coast of Maryland.

The lease is located areound 10 kilometres from shore
The lease is located areound 10 kilometres from shore

The company, a subsidiary of Italian renewable energy firm Renexia, beat New Jersey-based Green Sail Energy and SCS Maryland Energy in a hotly contested online sale that featured 19 rounds of bidding.

Of the 16 companies pre-qualified to participate in the auction, they were the only three to take part.

The area that was up for tender covers nearly 323 square kilometres located about ten nautical miles of the coast of Ocean City, Maryland.

The Bureau of Ocean Energy Management split the area into two leases with a combined commercial wind generation potential of 850MW to 1,450MW.

The company's bid far outstripped the prices paid by developers in the US's first two offshore lease auctions, held last year. In those, Deepwater Wind paid $3.8 million for two parcels off Rhode Island with a combined potential of 3.4GW and Dominion Virginia Power's high bid of $1.6 million won it the rights to the Virginia lease area, which has more than 2GW of potential.

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