Offshore wind lease sale nets record $4.4B

A lease sale for rights to build wind farms in an area off the New York and New Jersey coasts netted a record-breaking $4.37 billion, the Interior Department announced on Friday. 

This week’s lease sale not only broke records for offshore wind, still a burgeoning industry in the U.S., but also for oil and gas leasing, the department said. 

The lease sale offered up six tracts — totaling about 488,000 acres in the New York Bight — where offshore wind farms can be built. 

Combined, the areas have the potential to host wind farms that generate enough electricity to power up to 2 million homes, the Interior Department said. 

Secretary Deb Haaland, in a statement, said that the results demonstrate significant interest in clean energy.

“This week’s offshore wind sale makes one thing clear: the enthusiasm for the clean energy economy is undeniable and it’s here to stay,” she said. 

The Biden administration has pushed to advance the offshore wind industry — saying that it hopes to be able to generate enough offshore wind power for 10 million homes by 2030.

It has also said that it hopes to hold a total of seven offshore wind lease sales by 2025.