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U.S. Offshore Wind Auction Breaks Record With $405 Million in New Leases

The U.S. government just smashed its own records when an auction on Friday to lease thousands of acres off the Massachusetts coast for offshore wind development brought in a whopping $405.1 million, signaling that this particular renewable energy sector is finally taking off at high speeds, Utility Drive reported.  If fully developed, the leased area could generate 4.1 gigawatts of commercial energy, enough to power 1.5 million homes, the Department of Interior (DOI) said in a press release. The auction was run by the Bureau of Ocean Energy Management (BOEM), part of the DOI. Even former Interior Secretary Ryan Zinke, whose energy policies have generally favored fossil fuels, expressed excitement in one of his last statements before resigning Saturday.  Read more...

 

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