The United States Department of the Interior has announced two additional agreements to terminate offshore wind leases, following a similar approach to its earlier arrangement with TotalEnergies. Under the new agreements, Bluepoint Wind and Golden State Wind will voluntarily end their offshore wind leases, with affiliated companies committing to invest in conventional energy projects in the USA.
Global Infrastructure Partners, part of BlackRock, has committed to invest up to $765 million, equivalent to the original bid for the Bluepoint Wind project, in a liquefied natural gas facility in the USA. Following this investment, the lease will be cancelled and the bid amount reimbursed in line with the funds invested. Bluepoint Wind has also indicated it will not pursue further offshore wind developments in the USA.
Golden State Wind has agreed to terminate its lease in the Morro Bay Wind Energy Area in California. The company will be eligible to recover approximately $120 million in lease fees after making an equivalent investment in oil and gas assets, energy infrastructure or liquefied natural gas projects along the Gulf Coast. Golden State Wind has also stated it will not pursue additional offshore wind projects in the USA.
