Broadwind (BWEN) gained by 3.35% today to $1.85 per share. BWEN's market cap is currently only $36.04 million despite it being the #1 highest quality publicly traded U.S. wind energy company.
Two days ago, New York Governor Kathy Hochul, New Jersey Governor Phil Murphy, and United States Secretary of the Interior Deb Haaland announced that the Bureau of Ocean Energy Management (BOEM) will be holding a wind auction on February 23, 2022, for an area consisting of 488,000 acres located in the New York Bight, along with a plan for a coordinated offshore wind supply chain effort between New York, New Jersey and BOEM, titled "A Shared Vision on the Development of an Offshore Wind Supply Chain." The leases offered in this sale could result in 5.6 to 7 gigawatts (GW) of offshore wind energy, enough to power two million homes in the region.
BWEN saw America's imminent offshore wind boom coming 17 months ago! Renews published an article on August 5, 2020, entitled, 'Broadwind ponders offshore towers move' which began by saying, "US onshore wind tower producer Broadwind is considering potential opportunities to enter into the offshore wind sector." BWEN's CEO was quoted in the article as saying, "We are currently evaluating strategic alternatives that have the potential to provide an attractive entry point into offshore wind. As an established producer of onshore wind towers, the transition to offshore represents a natural progression for our business, one with the potential to drive sustained demand for our expertise." Click here to read the article!
If BWEN officially announces its entry into the offshore wind energy space, BWEN could become one of NIA's largest short-term percentage gainers of all-time.
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