Three companies collectively bid $405.1m to secure development rights for Martha’s Vinyard offshore wind farms near Massachusetts. Equinor Wind US LLC, Vineyard Wind LLC, and Mayflower Wind Energy LLC (a collaboration between EDF Renewables Development Inc. and Shell New Energies US LLC.) each pledged $135 million to secure leases from the US government.
The leases cover an area of 157,000 hectares south of Martha’s Vineyard.
The auction exceeds the previous record of $42.47m for an offshore wind lease by Equinor ASA in 2016.
The leases underscore the growing appetite for US wind and can potentially support 4.1GW of commercial wind generation. US installed wind capacity is expected to escalate from 30MW today to 10GW by 2030, making the US a key region for investment.