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Dec 7 (Reuters) – The primary ever public sale of offshore wind growth rights off the coast of California entered its second day on Wednesday, with excessive bids topping $460 million.

The Biden administration’s sale is a serious milestone within the its objective to place generators alongside each U.S. shoreline and a crucial check of developer urge for food for funding in floating wind generators, an rising expertise needed in areas the place the ocean flooring is just too deep for mounted gear.

The Inside Division’s Bureau of Ocean Power Administration (BOEM) is auctioning 5 lease areas equal to a mixed 373,267 acres (151,056 hectares) off the state’s north and central coasts. Earlier federal offshore wind auctions have all been for leases in shallower waters of the Atlantic Ocean.

After 22 rounds of bidding, excessive bids totaled a mixed $462.1 million. Two leases off the central coast had commanded excessive bids of greater than $100 million, with the remaining leases attracting excessive bids in a spread of $62.7 million to $98.8 million, in response to dwell public sale outcomes on the BOEM site.

The identities of the bidders are usually not disclosed through the public sale, however 43 corporations had been authorised to take part.

They embrace established offshore wind gamers like Avangrid Inc (AGR.N), Orsted (ORSTED.CO) and Equinor (EQNR.OL), that are all creating tasks on the U.S. East Coast, in addition to potential new entrants together with Swedish floating wind developer Hexicon (HEXI.ST) and Macquarie (MQG.AX) unit Corio.

Reporting by Nichola Groom; Enhancing by Alexander Smith

Our Requirements: The Thomson Reuters Belief Rules.


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