The U.S. Department of the Interior has announced the first offshore wind energy lease sale for waters off the Oregon coast. In mid-October, the Bureau of Ocean Energy Management will hold an auction for floating wind turbines in two areas totaling 195,000 acres with the potential to generate more than 3 GW of renewable energy.

The concept of floating wind turbines dates back to 1972. The first floating, grid-connected wind turbine in the U.S. came in 2013 thanks to a consortium led by the University of Maine. Today, the state is the focus of a floating offshore wind research lease that was awarded by the Bureau of Ocean Energy Management earlier this year.

Although the number of large-scale floating wind farms globally illustrates a solution that is still in its early stages of development and deployment, the National Renewable Energy Laboratory estimates that the U.S. has the potential for nearly three terawatts.

See Today's Pricing Data