August 29, 2023
The Biden administration’s first ever auction of offshore wind development rights in the Gulf of Mexico ended with a single $5.6 million winning bid on Tuesday, reflecting meager demand for the clean energy source in a region known for oil and gas production.
Germany’s RWE (RWEG.DE) won rights to 102,480 acres (41,472 hectares) off Louisiana – the lowest winning bid for a federal offshore wind lease at auction since the Obama administration – while the other two lease areas on offer off Texas received no bids, according to results posted online by the U.S. Bureau of Ocean Energy Management.
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