Wilmington East Wind Energy Area leased for $315M – Greater Wilmington Business Journal

by | May 11, 2022 | Energy

Rights to plan two wind farms off the coast of Southeastern North Carolina were provisionally awarded to two companies Wednesday, fetching $315 million in combined bids. The Bureau of Ocean Energy Management’s (BOEM) auction began Wednesday morning for two lease areas in the Wilmington East Wind Energy Area, totaling nearly 110,100 acres. With each area about 55,000 acres, the western lease provisionally sold for $160 million to TotalEnergies Renewables USA, LLC and the eastern lease went for $155 million to Duke Energy Renewables Wind, LLC. Lease awards will be finalized following regulatory review. First bids for Wilmington East came in at 9 a.m., drawing four separate companies for one of the leasing areas and five for the other. Bidders dwindled down by the afternoon, and after 18 rounds, wrapped up at 3:40 p.m. Participants were permitted to bid on both leases.Wednesday’s outcome comes on the heels of the New York Bight auction, BOEM’s most lucrative offshore energy lease sale in history – including oil and gas. In that auction, six companies bid a combined $4.37 billion for the rights to plan wind farms off the coast of New York and New Jersey on more than 488,000 acres, at roughly $9,472 an acre. By comparison, Wilmington East lured $2,861 per acre.The Wilmington East area presents the opportunity to power nearly 500,000 homes by generating 1.48 gigawatts of electricity, accordi …

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