After a long day and a half of competing bids, offshore wind developers Equinor, Vineyard Wind and Mayflower Wind emerged as the winners of three offshore wind energy leases offered at auction by the U.S. Department of Interior Bureau of Ocean Energy Management (BOEM) in Massachusetts.
The auction consisted of 32 rounds before determining the provisional winners of Lease Area OCS-A 0520 (128,811 acres), OCS-A 0521 (127,388 acres), and OCS-A0522 (132, 370 acres). Winning bids totaled $405 Million.
The three leases, located near Martha’s Vineyard off the southern New England coast, were won at prices of $135M, $135M and $135.1M. This is a new record for U.S. offshore wind leases.
“We congratulate our Network Members: Equinor, Vineyard Wind, and Mayflower Wind (Shell and EDP Renewables) for submitting the winning bids, and thank all of the 11 companies who bid on these leases—a new record for BOEM offshore wind auctions,” said Liz Burdock, President & CEO, Business Network for Offshore Wind. “We encourage all the lease winners and existing lease owners to work together so that the industry can adopt a regional approach to getting these wind farms constructed in the next six to seven years.”
Burdock noted that these leases are in close proximity to the State of Massachusetts, and new leaseholders Equinor and Mayflower Wind are now eligible to participate in the state’s next solicitation for offshore wind power. She encourages the state to follow New Jersey’s example in scheduling multiple requests for proposals (RFPs) over the next five to six years.