California’s Offshore Wind future is Floating!
After a two-day lease auction in California, a first on the west coast of the U.S., there are a couple of key observations which could be regarded as disruptive with respect to the New York Bight’s ground-breaking highlights. Less active bidders (only seven out of the 43 qualified bidders participated in day 1) and lower acreage prices set a new tone in the Bureau of Ocean Energy Management (BOEM)’s offshore wind leasing path. These observations confirm what appear to be the start of an acreage price relaxation trend first observed in the Carolina Long Bay’s auction in May 2022.
- Power and renewables