The US government is looking to kick-start its offshore wind industry with the largest ever lease sale in the Gulf of Mexico in what it calls “Bidenomics.”.As part of its so-called ‘clean energy’ initiative, the Joe Biden administration has plans to offer up to 30 million acres of federal land in a bid to increase the country’s wind power capacity to 3.7 gigawatt — almost 100 times — by 2030..The initial offering of about 300,000 acres in three areas on the outer continental shelf will be held in New Orleans on Aug. 29. Observers said prices are expected to fetch up to $4,000 per acre..“These three areas have the potential to power almost 1.3 million homes with clean energy and support the creation of new jobs,” the Bureau of Ocean Energy Management (BOEM) said on its website..“The Gulf of Mexico is poised to play a key role in our nation’s transition to a clean energy future,” said BOEM Director Elizabeth Klein. “Today’s announcement follows years of engagement with government agencies, states, ocean users, and stakeholders in the Gulf of Mexico region. We look forward to continued collaboration in the years to come.”.The Gulf of Mexico is considered prime real estate for wind turbines due to its existing oil and gas infrastructure and skilled workforce that supplies about 15% of the Lower 48’s petroleum supply..The Gulf also has potential for large scale ‘green’ hydrogen production using electrolysis generated from said wind turbines..Offshore wind is presently undergoing significant growth of about 24% per year, with 45 proposed projects representing 35,000 megawatts worth about US$136 billion in investments. BOEM expects to review at least 16 of them by 2025..Since 2021 the Biden administration has approved three commercial scale wind projects off Massachusetts, Rhode Island and New Jersey. .Under an Interior Department roadmap, BOEM is considering up to seven additional offshore lease sales by 2025 in addition to the Gulf of Mexico, including the Gulf of Maine, Central Atlantic as well as the Carolinas, California and Oregon..It’s part of US President Joe Biden’s Inflation Reduction Act that aims to attract $490 billion in renewable energy.
