Offshore wind lease 26 nautical miles off Delaware Bay sold for $75 million

DOVER — International energy company Equinor called the east and west coasts of the United States “attractive growth markets” and announced that it had won a $75 million bid for waters 26 nautical miles off the mouth of Delaware Bay at an energy auction held by the Bureau of Ocean Energy Management (BME).

“Equinor is pleased to have been selected as the provisional winner of the Mid-Atlantic offshore wind lease auction. Equinor's interest in this auction is consistent with our approach to pursuing attractive offshore wind opportunities in the United States. In the Mid-Atlantic region, electricity demand is growing rapidly and there is widespread support for incorporating renewable energy sources into the energy mix,” said Molly Morris, President of Equinor Renewables Americas, in a press release.

The company reports that its two-gigawatt lease could power 900,000 homes.

Equinor said it will now work with BOEM to certify the lease. Following regulatory approval, the Central Atlantic site will be added to its existing U.S. offshore wind portfolio, which also includes the South Brooklyn Marine Terminal and Empire Wind 1 projects.

“Today's announcement underlines Equinor's commitment to creating value through renewable projects. This is a long-term option with first power supply after 2035. The development of this lease will build on Equinor's proven capabilities in offshore wind. We will take a disciplined approach to minimise risk and develop a robust project in our portfolio,” said Pål Eitrheim, Executive Vice President of Equinor Renewables, in a press release.

Equinor, headquartered in Norway, says it is the leading operator on the Norwegian continental shelf and is present in around 30 countries worldwide.