Gulf of Maine wind power sale attracts lackluster interest
Maine Public | By Peter McGuire
Published October 29, 2024 at 4:42 PM EDT
Two companies have won the rights to develop floating offshore wind turbines in the Gulf of Maine.
Results from the federal government's first-ever wind energy lease sale netted about $22 million in lease payments for four parcels off the coast of Cape Cod and Maine.
Avangrid Renewables, based in Connecticut, submitted winning bids of $4.9 million and $6.2 million for two parcels about 30 miles off the coast of Cape Cod, according to the Bureau of Ocean Energy Management.
Invenergy NE Offshore Wind, meanwhile, won an area more than 46 miles off the Maine coast for $4.9 million and another off Cape Cod for $5.8 million.
In total, the companies leased about 440,000 acres of ocean. Only half of the parcels officials put up for sale were bid on during Tuesday's auction.
A bureau representative would not divulge how much the federal government hoped to earn from the sale. The agency does not publish expected energy revenue, but "the sale price of $50 per acre was established as a baseline to provide fair return to the taxpayer," spokesperson Alison Ferris said in an email. That baseline payment roughly equals the amount Avangrid and Invenergy bid for the leases.
The sale results were far less than eye-popping sums spent on offshore wind leases about two years ago. Developers bid $4.37 billion on six lease areas off New York in early 2022 and another $757 million on a five-parcel sale in California later that year.
Kate Sinding Daly, senior vice president for law and policy at the Conservation Law Foundation, acknowledged high inflation and other economic challenges have slowed the offshore wind energy industry.
Article continues at https://www.mainepublic.org/climate/2024-10-29/gulf-of-maine-wind-p...
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Comment by Dan McKay on October 30, 2024 at 10:22am
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Ocean wind is a losing proposition for everyone.
Maine as Third World Country:
CMP Transmission Rate Skyrockets 19.6% Due to Wind Power
Click here to read how the Maine ratepayer has been sold down the river by the Angus King cabal.
Maine Center For Public Interest Reporting – Three Part Series: A CRITICAL LOOK AT MAINE’S WIND ACT
******** IF LINKS BELOW DON'T WORK, GOOGLE THEM*********
(excerpts) From Part 1 – On Maine’s Wind Law “Once the committee passed the wind energy bill on to the full House and Senate, lawmakers there didn’t even debate it. They passed it unanimously and with no discussion. House Majority Leader Hannah Pingree, a Democrat from North Haven, says legislators probably didn’t know how many turbines would be constructed in Maine if the law’s goals were met." . – Maine Center for Public Interest Reporting, August 2010 https://www.pinetreewatchdog.org/wind-power-bandwagon-hits-bumps-in-the-road-3/From Part 2 – On Wind and Oil Yet using wind energy doesn’t lower dependence on imported foreign oil. That’s because the majority of imported oil in Maine is used for heating and transportation. And switching our dependence from foreign oil to Maine-produced electricity isn’t likely to happen very soon, says Bartlett. “Right now, people can’t switch to electric cars and heating – if they did, we’d be in trouble.” So was one of the fundamental premises of the task force false, or at least misleading?" https://www.pinetreewatchdog.org/wind-swept-task-force-set-the-rules/From Part 3 – On Wind-Required New Transmission Lines Finally, the building of enormous, high-voltage transmission lines that the regional electricity system operator says are required to move substantial amounts of wind power to markets south of Maine was never even discussed by the task force – an omission that Mills said will come to haunt the state.“If you try to put 2,500 or 3,000 megawatts in northern or eastern Maine – oh, my god, try to build the transmission!” said Mills. “It’s not just the towers, it’s the lines – that’s when I begin to think that the goal is a little farfetched.” https://www.pinetreewatchdog.org/flaws-in-bill-like-skating-with-dull-skates/
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Hannah Pingree on the Maine expedited wind law
Hannah Pingree - Director of Maine's Office of Innovation and the Future
"Once the committee passed the wind energy bill on to the full House and Senate, lawmakers there didn’t even debate it. They passed it unanimously and with no discussion. House Majority Leader Hannah Pingree, a Democrat from North Haven, says legislators probably didn’t know how many turbines would be constructed in Maine."
https://pinetreewatch.org/wind-power-bandwagon-hits-bumps-in-the-road-3/
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