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
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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 Block Island wind farm, from Montauk Point, on Long Island, New York, on April 16, 2021. (Photo by Mark Harrington/Newsday RM via Getty Images) | Getty Images
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.
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| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| EQNR | EQUINOR ASA | 27.09 | -0.03 | -0.09% |
| RWEOY | RWE AG | 34.05 | -0.20 | -0.58% |
| NKW.H | n.a. | n.a. | n.a. | n.a. |
| ENGIY | ENGIE SA | 17.33 | +0.09 | +0.52% |
| EDRVF | EDP RENOVÁVEIS SA | 13.55 | -0.24 | -1.74% |
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.