Offshore wind developers ante up at auction of leases near Block Island

In what is sure to be seen as an affirmation of their industry’s prospects, a scrum of offshore wind developers is poised to pay an unprecedented amount of money for the latest set of leases being auctioned off in federal ocean waters near Rhode Island and Massachusetts. When the federal Bureau of Ocean Energy Management suspended its auction Thursday night for the three leases located in waters about 51 miles southeast of Block Island, the bids for each had reached between $91 million and $101 million — more than twice the highest amount paid in the past for an offshore wind lease in the United States and a range that compares favorably to payments for oil and gas projects. The bureau, part of the U.S. Department of the Interior, described the day as “historic.” In a tweet, Interior Secretary Ryan Zinke said, “We have something big going on off the coast of Massachusetts.” >click to read<10:13

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