ACP Statement on Gulf of Maine Lease Sale

Lease sale generated $21.9 million for the U.S. Treasury 

ATLANTIC CITY, NJ, October 29, 2024 – The American Clean Power Association (ACP) released the following statement from Anne Reynolds, ACP Vice President for Offshore Wind after the Bureau of Ocean Energy Management (BOEM) concluded a successful lease sale for the development of floating offshore wind farms in the Gulf of Maine. Four lease areas offshore Maine, Massachusetts, and New Hampshire, were sold in today’s auction facilitated by BOEM, generating $21.9 million in revenue for the U.S. Treasury. The provisional winners were Avangrid with two leases and Invenergy NE Offshore Wind LLC, a subsidiary of Invenergy, with two leases. Once fully developed, these projects are expected to generate enough energy to power over 2.3 million homes:

“American Clean Power commends the Bureau of Ocean Energy Management for conducting this wind energy lease sale in the Gulf of Maine, marking the first opportunity for deploying floating wind technology on the East Coast.

“Governor Janet Mills and Maine’s proactive approach to floating offshore wind technology deserves recognition. Today’s lease sale, along with Maine’s procurement planning, is a significant step toward achieving the state’s three-gigawatt offshore wind goal.

“As New England continues to use more and more electricity, this growing power demand can be met with clean, pollution-free offshore wind generation. Development in the Gulf of Maine will not only generate needed electricity but create jobs and investment for New England.

“With today’s lease sale building on earlier deepwater auctions on the West Coast, the United States is truly on track to become a global leader in floating offshore wind technology.”

Additional Background:    

• Offshore wind will play an important role in achieving Maine’s target of generating 100 percent of the state’s electricity from renewable sources by 2040, and Massachusetts plans to procure 5.6 GW of offshore wind energy by 2027. 
• BOEM’s lease sale follows extensive environmental analysis and thorough public engagement resulting in incorporation of feedback from a variety of stakeholders. The commercial lease gives the awardee the exclusive right to propose a project in the area and obtain federal review of its proposal. BOEM plans to continue growing the offshore wind sector by facilitating up to 12 offshore wind energy lease sales through 2028, including a second sale in the Gulf of Maine. 
• Most of the world’s usable offshore wind resources exist at depths greater than 60 meters, which according to the National Renewable Energy Laboratory (NREL) is the limit where fixed-bottom support structures can be placed – instead, floating substructures are needed.  
• There are strong economic incentives to develop floating wind technology that can make capturing these resources cost competitive.