The federal government plans to lease nearly 344,000 acres of the ocean floor off the coast of New Jersey to companies interested in building offshore windmills to generate electricity.
The Interior Department and the Bureau of Ocean Energy Management say that if fully developed, the leases could result in enough wind-generated electricity to power 1.2 million homes.
The leases are to be sold on Nov. 9.
So far, 13 companies have been qualified to bid on the leases.
In July, construction started on a $225 million, 30-megawatt offshore wind project off Block Island in Rhode Island.
New Jersey regulators have repeatedly rejected a proposal to build windmills off the coast of Atlantic City, saying the applicant has not demonstrated financial integrity, among other concerns.