Renewable Energy

Ocean Winds submits winning bid for central California offshore wind lease

Dec. 8, 2022

Golden State Wind, a joint venture between Ocean Winds and CPP Investments, has secured an 80,418-acre offshore wind lease area off California’s central coast.

Related To: Ocean Winds

Offshore staff

BOSTON, MA – Golden State Wind, a joint venture (JV) between Ocean Winds (OW) and Canada Pension Plan Investment Board (CPP Investments), has secured an 80,418-acre offshore wind lease area off California’s central coast.

This was one of five sites offshore California offered in an auction by the US Bureau of Ocean Energy Management. It was the US’ first floating offshore wind lease sale.

The JV's OCS-P 0564 is in the Morro Bay area.

OW developed Windfloat Atlantic offshore Portugal, the world’s first fully commercially operational floating offshore wind farm, and is working on other floating projects in Portugal, France, the UK and South Korea (almost 3.7 GW collectively).

Golden State Wind paid $150.3 million for the lease area OCS-P 0564, which could be developed to provide 2 GW of power to about 900,000 homes. California is targeting 5 GW of floating offshore wind capacity by 2030.

The JV has committed to investing $30 million in development of a local workforce development and supply chain initiatives to maximize the benefits to California from the emerging offshore wind sector.

12.08.2022