European energy firms capture most leases in California offshore wind auction
Europe wins right to develop US offshore wind energy in California for $757.1 million
Biden admin proposes offshore wind energy leases while ignoring its ‘problems’: Expert
FOX Business’ Kelly O’Grady speaks to Fraser Institute Senior Fellow Cornelis van Kooten on wind power’s land space and efficiency issues.
The Biden administration's sale of offshore wind development rights off the coast of California drew $757.1 million in high bids, mainly from European developers seeking a foothold in the domestic industry's expansion to the Pacific Ocean.
Winners of the five leases were primarily divisions of European energy companies that are already developing projects in the U.S. offshore wind market.
The winners included Norway's Equinor ASA, Denmark's Copenhagen Infrastructure Partners, Germany's RWE AG, Ocean Winds, which is a joint venture between France's Engie and Portugal's EDP Renewables, and U.S. developer Invenergy LLC.
MACRON IS RIGHT, BIDEN'S ENERGY POLICY HAS SEVERAL 'GLITCHES': NICK LORIS
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| EQNR | EQUINOR ASA | 23.25 | +0.69 | +3.06% |
| RWEOY | RWE AG | 37.58 | +1.32 | +3.64% |
| NKW.H | NO DATA AVAILABLE | - | - | - |
| ENGIY | ENGIE SA | 20.71 | +0.53 | +2.63% |
| EDRVF | EDP RENOVÁVEIS SA | 7.87 | -0.37 | -4.49% |
The auction, which began on Tuesday and stretched into Wednesday, is part of the administration's plan to put wind turbines along every U.S. coastline to tackle climate change and create jobs.