Equinor, Dominion are winners in US Central Atlantic offshore wind auction

(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.

Source: Investing.com