In September, BOEM will Auction Nearly 112,800 Acres Offshore Virginia for Wind Energy Development
WASHINGTON, D.C. – As part of President Obama's comprehensive plan to move our economy toward domestic clean energy sources and begin to slow the effects of climate change, Secretary of the Interior Sally Jewell and Bureau of Ocean Energy Management (BOEM) Director Tommy P. Beaudreau today announced that BOEM will hold its second competitive lease sale for renewable energy on the U.S. Outer Continental Shelf (OCS). The auction, scheduled to take place on Sept. 4, will offer nearly 112,800 acres offshore Virginia for commercial wind energy leasing.
“After careful review, BOEM has determined that these companies are legally, technically and financially qualified to participate in the upcoming lease sale,” added Beaudreau. “We applaud their leadership and look forward to overseeing a fair and competitive leasing process.”
In addition to the list of eligible bidders, the Final Sale Notice contains specific information about deadlines and milestones for bidders; the area available for leasing; lease provisions and conditions; auction details; criteria for evaluating bids; award procedures; and lease execution and other information.
The sale is being conducted using an online bidding system and follows an ‘‘ascending clock'' auction format. BOEM will set an initial asking price for the lease area and increase that price incrementally based on the number of active bidders in each round until no more than a single active bidder remains in the auction.
For more information on renewable energy efforts offshore Virginia, including the Final sale Notice, visit BOEM's website by clicking here.