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A $1.6 Million Win In America's Second Offshore Wind Energy Lease Auction
Offshore wind took another major step toward becoming reality in America yesterday with the second-ever competitive lease sale to develop renewable energy in federal waters.
Virginia Electric and Power Company, a subsidiary of Dominion Virginia Power, won the Department of the Interior’s (DOI) auction to develop 112,800 acres about 23 miles from Virginia Beach with a final bid of $1.6 million.
Wednesday’s auction was the second successful DOI offshore wind lease sale held in a month, after a July 31stauction of 164,750 acres in New England, and could signal the start of a rush to develop new tracts of wind-rich areas off the Atlantic coast.
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