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New York Bight Offshore Wind Farm Leases Generate $4.37-Billion

Feb. 28, 2022
The 488,000 acres auctioned off could accommodate a generation capacity of at least 3 GW, enough to provide power to about one million homes.

Lots of excitement in the wind energy business, with the news that the New York Bight auction for approximately 762 square miles generated $4.37 billion in bid activity. Bight Wind Holdings had the largest bid with its offer of $1.1 billion for 124,964 acres.

TotalEnergies, Paris, which won the auction for a separate piece of large ocean real estate for wind farms in the New York Bight region, said in a press release that the 488,000 acres auctioned off could accommodate a generation capacity of at least 3 GW, enough to provide power to about one million homes. The company said the wind farms it will build on its more than 132 square miles are approximately 47 nautical miles off the coast of New York and New Jersey.  Its project is expected to come online by 2028.

While construction of these offshore wind farms is still several years off, they will eventually generate business for the electrical construction industry with the development of onshore staging facilities at ports, some manufacturing activities and classrooms to train workers for new jobs in the offshore wind industry. There will also be some business available at the shipyards the recently won bids for CTVs (crew transfer vessels) and other ships that will bring supplies out to the wind farms.

About the Author

Jim Lucy | Editor-in-Chief of Electrical Wholesaling and Electrical Marketing

Jim Lucy has been wandering through the electrical market for more than 40 years, most of the time as an editor for Electrical Wholesaling and Electrical Marketing newsletter, and as a contributing writer for EC&M magazine During that time he and the editorial team for the publications have won numerous national awards for their coverage of the electrical business. He showed an early interest in electricity, when as a youth he had an idea for a hot dog cooker. Unfortunately, the first crude prototype malfunctioned and the arc nearly blew him out of his parents' basement.

Before becoming an editor for Electrical Wholesaling  and Electrical Marketing, he earned a BA degree in journalism and a MA in communications from Glassboro State College, Glassboro, NJ., which is formerly best known as the site of the 1967 summit meeting between President Lyndon Johnson and Russian Premier Aleksei Nikolayevich Kosygin, and now best known as the New Jersey state college that changed its name in 1992 to Rowan University because of a generous $100 million donation by N.J. zillionaire industrialist Henry Rowan. Jim is a Brooklyn-born Jersey Guy happily transplanted with his wife and three sons in the fertile plains of Kansas for the past 30 years. 

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