Offshore Leasing Set For January

An auction date has been set for wind energy leases to develop more than 742,000 acres off the Massachusetts coast.

The sale is set for Jan. 29. It's the largest auction for commercial offshore wind energy leases.

The area is about 12 miles offshore, south of Martha's Vineyard.

If fully developed, officials say the area could generate 4 to 5 gigawatts of commercial wind generation _ enough electricity to power 1.4 million homes. It will be auctioned as four leases.

Twelve companies have qualified to participate in the auction.

Gov. Deval Patrick said the project, known as the Massachusetts Wind Energy Area, will create a renewable, homegrown power source.

Seven commercial wind energy leases have already been awarded off the Atlantic coast, including the Cape Wind project in Nantucket Sound.