New York Bight lease sale is a watershed moment for American offshore wind

National Ocean Industries Association (NOIA) President Erik Milito believes the conclusion of the New York Bight offshore wind lease auction, which saw $4.37 billion in winning bids for six lease blocks offshore New York and New Jersey, is a testament to how bright the American offshore wind outlook is.

“The record-shattering interest in the New York Bight lease sale (shows) how confident developers are in the strength of the U.S. offshore wind industry as a whole,” Milito said. ”Companies continue to invest and innovate, and the regulatory regime has a firm foundation. The New York Bight is a watershed moment for American offshore wind. 

This should lead to thousands of new jobs and billions of dollars of investment for New York, New Jersey, and the entire U.S. supply chain, he said.

“We are already seeing an offshore wind substation and a wind installation vessel being built in Texas, an offshore wind service operation vessel being constructed in Louisiana, and transmission cables being manufactured in North Carolina and South Carolina, along with many other examples.”

Milito expects a busy 2022 for American offshore wind.

“We applaud the work done thus far by Interior and BOEM and say, 'Well done and keep up the momentum.' We can clearly see the demand for more leasing, and we encourage the Administration to sustain progress through continued lease sales and project approvals. Congress can - and should - play a positive role through expansion of key tax credits that will help incentivize projects from the leasing stage through operations.”