RWEOY - U.S. probes New England area for new offshore wind development

2023-04-25 14:25:07 ET

The Bureau of Ocean Energy Management said Tuesday it finalized an area of nearly 10M acres off the coast of Massachusetts, New Hampshire and Maine for nominations to gauge commercial interest in offshore wind development .

Offshore Massachusetts, where developers are currently constructing Vineyard Wind, planned to come online later this year as the first commercial-scale project in the U.S., while Maine and New Hampshire remain virtually untouched.

The Biden administration is particularly interested in developing coastal Maine's deepwater wind resources, as the area is one of a handful of Outer Continental Shelf locations where it believes floating wind technologies could be a good fit.

Avangrid ( NYSE: AGR ), France's TotalEnergies ( TTE ) and Germany's RWE ( OTCPK:RWEOY ) are among the energy companies that have expressed interest in developing offshore wind in the area, the BOEM said.

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