The Grist Report: Hope for Wind Energy

Author:

Category:

A lease for offshore wind development went for a record-breaking bid in February, reports Grist, signaling that investors and developers see potential in offshore wind. When the Biden administration leased almost half a million acres of the Atlantic Ocean for offshore wind development, fourteen companies drove up the bid to a closing price of $4.37 billion. The largest tract went to Bight Wind Withholdings for $1.1 billion.

This per-acre lease price is nine times what companies paid in the last U.S. offshore wind auction. This comes as state and federal policy support for the industry has grown. This latest sale may be a building block toward Biden’s goal of developing enough offshore wind power to supply 10 million homes with energy by 2030.

Latest Stories

Mr. Fix-it: How to Repair a Screen Door

Mr. Fix-it helps you get more life out of your stuff. Why buy something new if you...

Galapagos Aims High with the World’s First Ecologically Friendly Airport

As I wait for my flight from the Galapagos back to mainland Ecuador, a huge land...

Meet the Filmmakers Behind The Nature Makers

I first met Scott Saunders soon after I landed in Los Angeles in 1985. We both...
Bluedot Living
Bluedot Living
Bluedot Living Magazine is a sustainable living magazine and website with locations throughout North America.

Read More

Related Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here