offshore wind, equinor

Offshore wind lease 26 nautical miles from Delaware Bay sells for $75M

By Brian Gilliland
Posted 8/16/24

DOVER — Calling the U.S. east and west coasts “attractive growth markets,” the international energy company Equinor announced its winning $75M bid in a Bureau of Ocean Energy …

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offshore wind, equinor

Offshore wind lease 26 nautical miles from Delaware Bay sells for $75M

Posted

DOVER — Calling the U.S. East and West coasts “attractive growth markets,” the international energy company Equinor announced its winning $75 million bid in a Bureau of Ocean Energy Management energy auction for waters 26 nautical miles from the mouth of the Delaware Bay.

“Equinor is pleased to have been selected as the provisional winner of the Central Atlantic offshore wind lease auction. Equinor’s interest in this auction is consistent with our approach to pursue attractive offshore wind opportunities in the United States. The Central Atlantic region has a rapidly growing demand for electricity with widespread support for adding renewable sources of energy into the power mix,” Molly Morris, president of Equinor Renewables Americas, said in a release.

The company reports its two-gigawatt lease could power 900,000 homes.

Equinor said it will now work with BOEM to certify the lease and, after regulatory approvals, the Central Atlantic site would be added to its existing U.S. offshore wind portfolio, including projects at the South Brooklyn Marine Terminal and Empire Wind 1.

“Today’s announcement underscores Equinor’s commitment to delivering value through renewable projects. This is a long-term option with first power post-2035. Developing this lease area will draw upon Equinor’s proven capabilities in offshore wind. We will take a disciplined approach to minimize risk and mature a robust project in our portfolio,” Pål Eitrheim, executive vice president of Equinor Renewables, said in a release.

Headquartered in Norway, Equinor said it is the leading operator on the Norwegian continental shelf, and is present in around 30 countries worldwide.

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