30 Jan '15, 6pm

Latest US Offshore Wind Auction Draws Few Bidders

Latest US Offshore Wind Auction Draws Few Bidders

Only two of the registered ten bidders showed up. RES America Inc. purchased a 187,523-acre parcel for $281,285, while Offshore MW LLC purchased 166,886 acres for a mere $166,886, the remaining two parcels were left without bidders. The purchase price here is a massive drop from previous auctions, which have been held within the past two years. Deepwater Wind won the first auction in 2013, where it bought 164,000 acres for $3.8 million, and in August 2014, US Wind purchased an 80,000-acre parcel for $8.7 million. So, US Wind paid more than $100 per acre, while RES America and Offshore MW paid less than $2.00. This new hesitation may be due in part to the new-found struggles of the Cape Wind project, which was set to become the first U.S. offshore wind project this year before contract struggles announced in early January . After nearly 15 years of planning, two utilities d...

Full article: http://www.renewableenergyworld.com/rea/news/article/2015...

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