The Trump administration announced two more offshore wind lease buyout deals on April 27, bringing the total to three since March.
Backers of Bluepoint Wind a planned project in the New York Bight co-owned by Global Infrastructure Partners (now part of BlackRock) will surrender their lease and reinvest up to $765 million (the original bid amount) into a U.S.-based LNG facility. Interior will cancel the lease and reimburse the bid payment once the investment is made.
Golden State Wind investors, who held a lease off Morro Bay, Calif., will recover approximately $120 million in lease fees after investing an equal amount in U.S. oil and gas, energy infrastructure, or Gulf Coast LNG projects.
Both companies also agreed to make no future investments in U.S. offshore wind.
Source: stewart0077