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May 27, 2022

US Government proposes California offshore wind lease sale

It is the first offshore wind lease sale proposed on the country's west coast.

The US Government has proposed a California offshore wind lease sale, which could facilitate the installation of 4.5GW of offshore wind capacity.

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Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
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The Proposed Sale Notice (PSN) comprises three lease areas in the Morro Bay Wind Energy Area offshore from central California, as well as two proposed lease areas in the Humboldt Wind Energy Area offshore from northern California.

The five lease areas together would cover an area of nearly 373,268 acres and generate enough clean energy to power more than 1.5 million homes.

The proposed sale is said to be the first offshore wind lease sale proposed on the US’ west coast.

It is part of the leasing path announced by Interior Secretary Deb Haaland last year to meet the Biden-Harris administration’s target to install 30GW of offshore wind capacity by 2030.

Bureau of Ocean Energy Management (BOEM) director Amanda Lefton said: “Today’s action represents tangible progress towards achieving the Administration’s vision for a clean energy future offshore California while creating a domestic supply chain and good-paying union jobs.

“BOEM is committed to robust stakeholder engagement and ensuring any offshore wind leasing is done in a manner that avoids or minimises potential impacts to the ocean and ocean users.

“The Proposed Sale Notice provides another opportunity for local communities, Tribes, ocean users, developers, and others to weigh in on potential wind energy activities offshore California.”

The PSN will be published in the Federal Register on 31 May and open a 60-day public comment period. It will include details about proposed lease areas, lease provisions, conditions and auction details. 

The notice will also provide information on the lease conditions such as instructions to prioritise workforce training, domestic supply chain development, community benefits and engagement.

Earlier this month, BOEM held an auction for two lease areas, with 1.3GW of total capacity, offshore from North and South Carolina.

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Free Report
img

Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
by GlobalData
Enter your details here to receive your free Report.

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