The Biden administration announced its first auction of offshore wind power leases today, in the New York Bight off the coasts of New York and New Jersey, a critical move for the sector to reach federal and state targets for offshore wind development by the end of the decade. The leases from the auction, set for February 23, have the potential to generate about 7 gigawatts of wind power.
The following is a statement from Uchenna Bright, eastern states advocate for the national nonpartisan business group E2:
“Accelerating offshore wind development is going to create tens of thousands of new good-paying jobs and strengthen coastal economies while also curbing the harmful emissions fueling rising sea levels and more violent hurricanes that threaten their communities. The Northeast is already leading the way, investing to develop offshore wind port infrastructure and a local supply chain. With federal government adding its support to this effort we can build the clean energy economy of the future on a national scale.
“The rest of the world is speeding to the clean energy transition and America’s economy needs to quickly prepare to compete or be left behind. Building offshore wind is one of the biggest tools we have to create new, long-term job opportunities here at home.”
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Environmental Entrepreneurs (E2) is a national, nonpartisan group of business leaders, investors, and professionals from every sector of the economy who advocate for smart policies that are good for the economy and good for the environment. Our members have founded or funded more than 2,500 companies, created more than 600,000 jobs, and manage more than $100 billion in venture and private equity capital. For more information, see www.e2.org or follow us on Twitter at @e2org.