Published On: Mon, Dec 17th, 2018

Equinor bags new offshore wind lease outside Massachusetts

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Wind industry news : Norwegian energy company Equinor successfully bid $135 million for one of three lease areas offshore Massachusetts in the online offshore wind auction held by the US Department of the Interior’s (BOEM).

The lease area secured by Equinor in this connection is OCS-A 0520, which is spread over 128,811 acres.

The Norwegian energy company will now have the rights to look into the potential development of offshore wind farms to offer the region with a significant, long-term source of clean electricity.

– President of Equinor Wind US Christer af Geijerstam said: “We are excited to have secured this attractive opportunity, Equinor’s second offshore wind lease in the United States. This acquisition complements our existing position on the US East Coast and gives us a foothold to engage in the Massachusetts and wider New market, a region notable for its strong commitment to offshore wind.”

The secured lease is south of Massachusetts and east of New York. Equinor says that it currently holds leases within reach of some of the key markets for offshore wind in the US.

Map showing the new offshore wind lease won by Norwegian energy company Equinor

Map showing the new offshore wind lease won by Norwegian energy company Equinor. Image courtesy of Business Wire.

The Norwegian energy company says that it has a strong belief in the long-term regional potential for offshore wind as an important local source of renewable, reliable and cost-effective power.

Equinor says that the new lease is part of its commitment to taking a leading position in the US renewable energy development. A couple of years ago, Equinor prevailed during the federal lease auction, by winning 80,000 acres south of New York and east of New Jersey.

Currently, the Norwegian energy company is developing offshore wind farms in that lease area for both New York and New Jersey states. Included in these are the Empire Wind offshore wind farm in New York and Boardwalk Wind offshore wind farm in New Jersey.

Equinor claims that its US offshore wind portfolio can potentially power over two million homes.

Pal Eitrheim – Equinor’s Executive Vice President for New Energy Solutions, said: “The US northeast presents Equinor with the near-term potential to build a second industrial offshore wind hub for the company, adding to our existing position in the .”

The Norwegian oil and gas giant says that it is consolidating its position in renewable energy and evolving into a broad energy company. Currently, Equinor powers over a million European households with renewable wind power from four offshore wind farms in the UK and Germany.

Last year, the Norwegian energy company commissioned a floating offshore wind farm off Scotland coast. Equinor is also engaged in developing offshore wind farms in along with solar power plants in Brazil and .

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