The Biden-Harris administration held its inaugural offshore wind lease auction in the Gulf of Maine, allowing developers to bid on leases for floating wind farms. However, the auction generated only $22 million in bids, a modest return that raises concerns about the viability of the offshore wind industry. Avangrid and Invenergy emerged as winners, securing leases for two areas despite the auction being described as a muted response from the industry. This event marks a significant step in offshore wind development, but it also highlights the ongoing challenges faced by the beleaguered sector.