First-ever California offshore wind auction surpasses $757 million in bids

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First-ever California offshore wind auction surpasses $757 million in bids - CNBC

Quick Summary:

The sale is a major milestone in the Biden administration's goal of building offshore wind turbines across the nation's coastlines to help power communities.

The Interior Department's Bureau of Ocean Energy Management (BOEM) auctioned five lease areas that span about 373,268 acres off California's coastlines.

Those leases are anticipated to produce up to 7 gigawatts of clean energy, enough to power nearly 2 million homes.