Ocean Winds (OW) and Canada Pension Plan Investment Board (CPP Investments) have announced that their newly formed offshore wind joint venture Golden State Wind was awarded an 80,418-acre lease area by the U.S. Bureau of Ocean Energy Management (BOEM) in the Morro Bay area off the central coast of California.
The lease area awarded, OCS-P 0564, is one of five sites off the coast of California that was the subject of an auction held by BOEM. Golden State Wind’s winning bid for lease area OCS-P 0564 was $150.3 million, with OW and CPP Investments each maintaining a 50% investment in the project. When fully built out and operational, the lease area could accommodate approximately 2 GW of floating offshore wind energy. As part of Golden State Wind’s winning bid, OW and CPP Investments commit to investing $30 million in workforce development and supply chain initiatives and to work closely with key local stakeholders to maximize the benefits to California from the emerging offshore wind industry.
