Takeaways:

  • The Biden administration will hold its first offshore wind auction this year.
  • The auction will offer almost 500 000 acres off the coast of New York and New Jersey for wind energy projects that will be able to produce enough electricity to power 2 million homes.
  • Offshore wind developers in the New York Bight region will allow wind developers to bid on six lease areas. This is the most ever offered in this type of auction.

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