US Government Makes $1.8 Million in Auction of Offshore Real Estate to Produce Wind Energy

NEW BRUNSWICK, NJ— On November 9, the United States Department of the Interior auctioned off two offshore areas located off the coast of southern New Jersey for sustainable energy purposes.

The said space, some seven nautical miles offshore from Atlantic City, is part of a large project to promote sustainable green energy by U.S. President Barack Obama specifically targeted to "save the health of American families," and boosting the American economy.

The auctioned space, which includes two designated areas that add up to 344,000 acres, was sold to the higher bidders in auction-form by the Department of Interior's Borough of Ocean Management (BOEM). 

Two two bidders that acquired the leases include RES America Developments Inc., who consider themselves "one of the top renewable energy companies in North America," and US Wind Inc. another company interested in renewable energy.

They paid $800,715, and $1,006,240 for their leases of 160,480 acres, and 183, 353 acres respectively. 

However, despite the push by the Obama administration and the almost finalization of thousands of sea acres that are capable of helping New Jersey reach its renewable energy goal, the companies face a large stumbling block as far as building goes.

Companies in New Jersey wishing to complete renewable energy projects such as this lack the clearance or funding to do so. 

Five years ago, in 2010, Governor Chris Christie promised the state of New Jersey to write, finalize, and implement a bill to give companies the clearance to not only build alternative energy collecters, but get funding from the federal government to do so, and then bring the energy from outside sources to New Jersey homes and busnissnesses.

At this point, despite the acquisition of ocean space capable of bringing in enough renewable energy to power a projecred 1.2 million homes, Res America Developments Inc. and US Winds Inc. are at a stalemate unable to follow through with their projects.

Congressman Frank Pallone saw this turn of events happening and to stop them reached out to Christie before the auction.

On September 30, with the auction approaching, Pallone, with U.S. Senators Bob Menendez and Cory Brooker, wrote to Christie in the form of a letter to urge him to follow through with his promised bill.

Now, almost two months after the letter, and after the completion of a significant sale to two major Atlantic North East companies, Christie has not followed through with his wind deal promised five years ago, making it harder for the companies to move forward.

The first year in a space wherein the companies will have a probationary period to test for functionality. The following four and a half years hold a time in which the companies have time to propose a plan for what to do with the site.