AVN 67.90 Decreased By ▼ -0.58 (-0.85%)
BAFL 31.23 Increased By ▲ 0.23 (0.74%)
BOP 4.90 Decreased By ▼ -0.01 (-0.2%)
CNERGY 3.79 Increased By ▲ 0.04 (1.07%)
DFML 14.15 Decreased By ▼ -0.08 (-0.56%)
DGKC 41.23 Decreased By ▼ -0.41 (-0.98%)
EPCL 47.49 Increased By ▲ 2.12 (4.67%)
FCCL 11.55 Decreased By ▼ -0.16 (-1.37%)
FFL 5.10 No Change ▼ 0.00 (0%)
FLYNG 5.89 Increased By ▲ 0.04 (0.68%)
GGL 10.62 Increased By ▲ 0.21 (2.02%)
HUBC 68.88 Increased By ▲ 0.38 (0.55%)
HUMNL 5.75 No Change ▼ 0.00 (0%)
KAPCO 28.18 Decreased By ▼ -0.04 (-0.14%)
KEL 2.28 Increased By ▲ 0.02 (0.88%)
LOTCHEM 26.89 Increased By ▲ 1.79 (7.13%)
MLCF 21.30 Decreased By ▼ -0.28 (-1.3%)
NETSOL 87.20 Decreased By ▼ -1.15 (-1.3%)
OGDC 99.25 Decreased By ▼ -0.05 (-0.05%)
PAEL 11.08 Decreased By ▼ -0.03 (-0.27%)
PIBTL 4.26 Increased By ▲ 0.03 (0.71%)
PPL 80.11 Decreased By ▼ -2.34 (-2.84%)
PRL 13.44 Increased By ▲ 0.10 (0.75%)
SILK 0.92 Increased By ▲ 0.02 (2.22%)
SNGP 43.55 Decreased By ▼ -0.83 (-1.87%)
TELE 6.20 Increased By ▲ 0.02 (0.32%)
TPLP 15.86 Increased By ▲ 0.05 (0.32%)
TRG 120.75 Increased By ▲ 1.00 (0.84%)
UNITY 14.12 Increased By ▲ 0.02 (0.14%)
WTL 1.33 Increased By ▲ 0.07 (5.56%)
BR100 4,181 Increased By 9.2 (0.22%)
BR30 15,280 Increased By 27 (0.18%)
KSE100 41,782 Increased By 259.5 (0.62%)
KSE30 15,775 Increased By 112.4 (0.72%)
Follow us

WASHINGTON: The US government announced Wednesday it will auction more than 480,000 acres off the coasts of New York and New Jersey to build wind farms as part of its campaign to supply renewable energy to more than 10 million homes by 2030.

Offshore wind developers will bid February 23 on six areas in the New York Bight -- the most lots ever offered in a single auction -- which could generate between 5.6 to seven gigawatts of energy, enough to power two million homes, the Interior Department said.

"We are at an inflection point for domestic offshore wind energy development. We must seize this moment -- and we must do it together," Interior Secretary Deb Haaland said in a statement.

The auction will be the first under President Joe Biden, whose administration aims to build as many as to seven major offshore wind farms and review plans for at least 16 others along the US coasts.

The effort is part of Washington's fight against climate change, and the Biden administration says the wind investment would cut 78 million tons of carbon dioxide emissions and create tens of thousands of jobs.

The auction comes after the state governments of New York and New Jersey announced plans to install 16 gigawatts of offshore wind power by 2035, the largest such commitment in the country, the Interior Department said.

Only one offshore wind farm is currently fully operational in the United States: the Block Island Wind Farm, completed at the end of 2016 off the state of Rhode Island and capable of producing 30 megawatts.

Comments

Comments are closed.

US to hold largest-ever offshore wind farm auction next month

Intra-day update: rupee registers gains against US dollar

FY24 budget: FBR invites proposals on income tax

LHC suspends ECP's order de-notifying 43 PTI MNAs

AIIB chief economist briefed about state of economy

Dar inducts four new members into ‘RRMC’

Reason behind cut in PSDP disbursement identified

Rs 417bn received by KP: Cabinet decides to conduct audit

Thar coal-based power plant: COD achieved

Power breakdown of Jan 23: Senate panel directs Power Division to conduct probe

TAPI gas pipeline: Pakistan willing to go ahead with or without India