Friday 3 February 2023

In December 2022 California held its first offshore wind leasing round – Pacific Wind. This was an exciting moment for the global floating as well as US and California wind industry – offering another opportunity to acquire acreage and to develop commercial scale floating wind projects in these nascent markets.

Although this was the third US lease auction to be held in 2022, additional considerations were required to be taken by bidders, including the development of a floating solution, the challenging permitting process and no binding commitment to purchase offshore wind from the state of California. The question was how much developers were willing to pay with these uncertainties in place.

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