California offshore wind auction ends with $757.1 mln in high bids

The Biden administration's sale of offshore wind development rights off the coast of California drew $757.1 million in high bids from developers seeking a foothold in the domestic industry's expansion to the Pacific Ocean.

The auction, which began on Tuesday and stretched into Wednesday, is part of the administration's plan to put wind turbines along every U.S. coastline to tackle climate change and create jobs.