February 28, 2022 — The United States government netted a record $4.37 billion on Friday from the sale of six offshore wind leases off the coasts of New York and New Jersey, a major step in the Biden administration’s goal of ushering in a future powered by renewable energy.
The auction, of more than 488,000 acres in the Atlantic Ocean between Cape May, N.J., and Montauk Point, N.Y., was the Biden administration’s first offshore lease sale.
When turbines are built and start working, the auctioned acres are expected to generate up to 7,000 megawatts, enough to power nearly 2 million homes.
The Interior Department has said between that project and others currently under review, it hopes to see some 2,000 turbines churning from Massachusetts to North Carolina by the end of this decade.