California offshore wind farm opportunities

The Bureau of Ocean Energy Management’s wind energy auction for five leases offshore
California netted $757.1 million, well exceeding the first lease sales that were held in the
Atlantic. Provisional winners include RWE Offshore Wind Holdings, LLC; California North
Floating, LLC, with its partner CIP; Equinor Wind US, LLC; Central California Offshore Wind,
LLC; and Invenergy California Offshore LLC.

CIP Senior Partner Torsten Smed said, “California is expected to develop into a key
market for floating offshore wind and the auction represented a strong investment opportunity for
us. By adding the new lease area to our portfolio and based on our large global portfolio of
floating offshore projects in different stages of development we are uniquely positioned to lead
the commercialization of floating offshore wind in the U.S.” Since 2016, CIP has built a leading
offshore wind position through its affiliate Vineyard Offshore, off of Massachusetts.

“The future of offshore wind is floating, and we are proud to have taken this first
important step in building an attractive floating offshore pipeline off the U.S. West Coast,”
continued Smed. “We look forward to supporting the ambitious offshore goals of the State of
California and do our part in ensuring the local job creation and the environmental improvements
that will benefit the entire state.”

Floating wind generators are a new technology. Because the water depth is too deep for
pedestals, the structures literally float in the water and are tied down by long cables to the ocean
bottom.

What this means to the working man and woman - JOBS! Both in the construction and
transportation of the equipment and the maintenance of it. Low Cost and Renewable Energy is
the wave of the future and there are plenty of employment opportunities developing in the field.

At Hofmann & Schweitzer, we will continue to update you on the status of where and
when these excellent construction and maritime job opportunities in the wind energy
development field will occur. We will be there for the needs of labor if disaster strikes you and
your family.