Morning Update: New York Bight Lease Bidding Rises Above $4 Billion


Update (February 25, 11:08 a.m.): Bids for the six leases have reached $4.03 billion as of 11:08 a.m.

Original (February 24, 6:08 p.m.) : With such a large offshore wind development rights auction taking place this week, the New York Bight leases are attracting a record number of bids: $3.35 billion as of the recess taken by the U.S. Bureau of Ocean Energy Management (BOEM) on February 24.

With six leases up for bidding, BOEM updates show 46 rounds with combined live bids from over 10 companies totaling $3.35 billion. The highest bid has been $900 million for OCS-A 0539, which is located off the coast of New Jersey.

According to BOEM, the leases cover 488,201 acres in the New York Bight area. The lease sale expands off the New York and New Jersey coasts.

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