Equinor Wins $135M Bid for Offshore Wind Lease

The energy firm submitted the winning bid for an offshore lease area in an auction by the U.S. Department of the Interior’s Bureau of Ocean Energy Management.
An offshore wind farm outside Copenhagen, Denmark

Equinor has been awarded an offshore wind farm lease in the New England region with a winning $135 million bid. The U.S. Department of the Interior’s Bureau of Ocean Energy Management conducted an online auction Dec. 14 for three lease areas off the East Coast, south of Massachusetts and east of New York. The area, OCS-A 0520, is a 128,811-acre site in the Atlantic Ocean.

With the new lease, Equinor will explore the potential development of offshore wind farms to provide the region with a significant, long-term source of renewable electricity.

“This acquisition complements our existing position on the U.S. East Coast and gives us a foothold to engage in the Massachusetts and wider New England market, a region notable for its strong commitment to offshore wind,” said Christer af Geijerstam, president of Equinor Wind U.S., in prepared remarks. 

In December 2016, Equinor won a federal lease auction of 80,000 acres south of New York and east of New Jersey. The Norway-based company is one of Europe’s leading alternative-energy companies, according to a recent CDP study.

Image via Flickr Creative Commons user European Wind Energy Association