NEW YORK: Energy companies interested in developing offshore wind sites bid more than US$1.5 billion Wednesday in by far the biggest US auction for the renewable power.
After launching the auction Wednesday morning, US officials released updates throughout the day as the bids gradually rose on six available tracts involving nearly 500,000 acres off the coasts of New York and New Jersey.
After 21 rounds of bidding conducted Wednesday, the Bureau of Ocean Energy Management was set to resume the process on Thursday morning.
US President Joe Biden has embraced offshore wind as a component of an energy transition needed to combat climate change.
Development of all six tracts could…
