Global Infrastructure Partners, a part of BlackRock, has committed to invest up to US$765 million, the original bid amount for the Bluepoint Wind offshore wind project (Lease No. OCS-A 0537), into a US-based LNG facility. Following this accelerated investment, Interior will cancel the lease and reimburse the company’s bid payment in the amount invested in the LNG project. Additionally, Bluepoint Wind has decided not to pursue any new offshore wind developments in the US.
Golden State Wind has committed to voluntarily end its offshore wind lease located in the Morro Bay Wind Energy Area, California (Lease OCS-P 0564). Under the terms of the agreement, Golden State Wind will be eligible to recover approximately US$120 million in lease fees after an investment has been made of an equal amount in the development of US oil and gas assets, energy infrastructure, and/or LNG projects along the Gulf Coast. Golden State Wind has also decided not to pursue any new offshore wind projects in the US.
