- Published: 08 December 2022 08 December 2022
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.