Martha's Vineyard Wind-Farm Sites Spur $405 Million Bids
- Records shattered in auction of leases near Massachusetts
- State renewable power pledges lure developers to U.S. waters
Photographer: Keith Bedford/The Boston Globe via Getty Images
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Three companies bid a record-shattering $405.1 million to nab U.S. rights to build offshore wind farms near Massachusetts on Friday, a testament to the surging appeal of renewable power and investors’ confidence in state demand for it.
Equinor Wind US LLC, Mayflower Wind Energy LLC and Vineyard Wind LLC each pledged $135 million to secure individual leases from the U.S. government, drawn by state pledges to buy offshore wind power. Mayflower is a joint venture of EDP Renewables and Royal Dutch Shell Plc’s Shell New Energies US LLC.