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Feds declare winner in auction for Maryland offshore wind leases 

Credit:  By Bret Jaspers | WYPR | August 19, 2014 | wypr.org ~~

Energy company US Wind Inc, a subsidiary of the Italian company Renexia, won Tuesday’s auction to develop wind farms on federal waters ten nautical miles off the coast of Ocean City.

The federal Bureau of Ocean Energy Management (BOEM) held two simultaneous, online auctions for two different, adjacent parcels. US Wind won both leases with a joint bid of $8.7 million for the entire 80,000-acre area. Two other firms participated: Green Sail Energy LLC and SCS Maryland Energy LLC.

BOEM officials noted the competitiveness of the auction, which lasted 19 rounds. The price per acre was approximately $109, many times larger than what was bid in auctions last year for offshore wind leases in New England and Virginia.

The results are provisional; the next step will be a Department of Justice anti-trust review of the bid. US Wind then has a year to submit a site assessment, and then four and a half years to submit a construction and operations plan. They will also likely seek approval of the Maryland Public Service Commission for a ratepayer-funded subsidy for the project passed by the General Assembly in 2013.

Source:  By Bret Jaspers | WYPR | August 19, 2014 | wypr.org

This article is the work of the source indicated. Any opinions expressed in it are not necessarily those of National Wind Watch.

The copyright of this article resides with the author or publisher indicated. As part of its noncommercial educational effort to present the environmental, social, scientific, and economic issues of large-scale wind power development to a global audience seeking such information, National Wind Watch endeavors to observe “fair use” as provided for in section 107 of U.S. Copyright Law and similar “fair dealing” provisions of the copyright laws of other nations. Send requests to excerpt, general inquiries, and comments via e-mail.

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