Deals
A 21,000% Gain Shows Sky-High Value of Offshore Wind Leases
- U.S. Wind buys lease for $1 million, sells for $215 million
- France’s EDF plans to develop site through venture with Shell
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An Italian construction company just sold its lease to develop a wind farm in waters off the New Jersey coast for $215 million, about 21,000 percent more than it paid only three years ago.
Toto Holding SpA’s U.S. Wind unit, which paid about $1 million for the lease off Atlantic City in 2015, resold it to Electricite de France SA, which plans to develop the site though a joint venture with Royal Dutch Shell Plc.