Tuesday marks the first-ever U.S. auction for leases to develop commercial-scale floating wind farms in the deep waters off the West Coast.
AdvertisementMinimum bids for the leases range from $6 million to $8 million, but sales could go higher. An auction earlier this year for traditional offshore wind leases off the coasts of New York and New Jersey netted more than $4 billion, the record for the U.S. so far.
As envisioned, the turbines — possibly nearly as tall as the Eiffel Tower — will float on giant triangular platforms roughly the size of a small city block with cables anchoring them underwater. They'll each have three blades longer than the distance from home plate to the outfield on a baseball diamond, and will need to be assembled onshore and towed, upright, to their open-ocean destination.
Offshore wind is a good complement to solar energy, which shuts down at night. Winds far out to sea are stronger and more sustained and also pick up in the evening, just when solar is going offline yet demand is high, said Jim Berger, a partner at the law firm Norton Rose Fulbright who specializes in financing renewable energy projects.
In remote Humboldt County, in northern California, the offshore projects are expected to generate more than 4,000 thousand jobs and $38 million in state and local tax revenue in an area that's been economically depressed ever since the decline of the timber industry in the 1970s and 1980s, according to the Humboldt Bay Harbor, Conservation and Recreation District.
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