USA lays out plan for 12 offshore wind auctions over five years

The US government has unveiled plans for 12 offshore wind auctions over the coming five years, including four by end-2024, Reuters reported on Wednesday.

By the end of the year, lease sales will be held for areas in the Central Atlantic, Gulf of Maine, Gulf of Mexico and Oregon.

The Biden administration released the schedule to enable bidders to plan for the large-scale investments amid concerns about mounting costs.

“Our offshore wind leasing schedule will provide predictability to help developers and communities plan ahead and will provide the confidence needed to continue building on the tremendous offshore wind supply chain and manufacturing investments that we’ve already seen,” Interior Secretary Deb Haaland was cited as saying.

The country’s offshore wind sector has been hampered by rising costs linked to inflation, interest rates and supply chain constraints, the report noted.

Companies such as Denmark’s Orsted – which is eyeing multiple US offshore wind developments – have called on the Biden administration for more support for the projects. Orsted is among the companies to have dropped out of projects in the past year.

As if Q4 2023, the USA had 150.4 GW of installed wind power capacity.