Wavelength on 9 April: Tri-state auction – US offshore wind continues re-set after tumultuous 2023

March 27, 2024
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1 min read
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Will more legacy offshore wind projects decide to re-bid in the Atlantic US?

Today, 27 March, marks the bidding deadline for the first ever large-scale, multi-GW collaborative auction in the US: The tri-state auction between Massachusetts, Connecticut and Rhode Island.

The three neighboring states decided to join forces and resources to combat the recent economic turmoil in the American offshore wind market through flexibility and scale – allowing developers to re-think their projects and potentially unlock more benefits of scale, as the tri-state auction seeks to procure up to 6.8 GW of offshore wind altogether.

Several old projects that cancelled offtake contracts with states such as New York and not Massachusetts and Connecticut during 2023 may bid in this auction. How many of them will do so, and is the tri-state auction likely to continue the trend set by New York in its most recent auction, where old legacy projects successfully bid for new offtake contracts with higher prices?

Sign up below for Aegir Insights’ next Wavelength Intelligence Briefing on 9 April, 14:00 CET, where Head of Research Maria Holm Bohsen and Senior Research Analyst for the Americas Signe Sørensen discuss the tri-state auction and what it signifies as part of the ongoing reset of the American offshore wind sector.

Register for our upcoming Wavelength Intelligence Briefing!

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