February 24, 2022 — The Biden administration will hold a long-awaited offshore wind auction today, with both established players in the developing industry and new competitors expected to vie for a chance to raise turbines in the shallow-water region sandwiched between New Jersey and New York.
Industry has long pushed for a new auction in the New York Bight, where developers haven’t seen a lease sale since 2016, and expectations are high that it could result in a blockbuster sale.
“These leases will, in all likelihood, fetch historically high prices,” said Fred Zalcman, director of New York Offshore Wind Alliance, which advocates for the industry. “I think it’s going to be a very vibrant market.”
The bight offers acreage between two states with some of the most aggressive offshore wind targets in the country.