ECIFF - New York New Jersey offshore wind auction attracts record interest

The U.S. Bureau of Ocean Energy Management has launched the biggest-ever U.S. sale of offshore wind development rights, in an area covering nearly 500K acres off the coasts of New York and New Jersey. At least 14 companies are vying for the rights to build wind farms in shallow waters between Long Island and New Jersey with the potential to generate 5.6-7 GW of zero-emission power, or enough electricity to power 2M homes. Companies that registered as possible participants include European heavyweights such as Avangrid (NYSE:AGR), EDF  (OTCPK:ECIFF) and Equinor (NYSE:EQNR), and U.S. firms including Invenergy, Arevia Power and Horizon Wind Power; each bidder is allowed to win only one lease. ETFs: FAN, XLU The U.S. government's last offshore wind auction nearly four years ago attracted 11 companies competing for three tracts off the Massachusetts coast, with winning bids topping $405M after 32 rounds. The wind lease is the first

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New York, New Jersey offshore wind auction attracts record interest