(a) Except as provided in Sec. 585.231, we will hold competitive auctions to award renewable energy leases and will use one of the following auction formats, as determined through the lease sale process and specified in the Proposed Sale Notice and in the Final Sale Notice: ------------------------------------------------------------------------
(1) Sealed bidding.......... A cash bonus or an One sealed bid per
operating fee rate. company per lease
or packaged bidding
unit.(2) Ascending bidding....... A cash bonus or an Continuous bidding
operating fee rate. per lease.(3) Two-stage bidding An operating fee Ascending or sealed
(combination of ascending rate in one, both, bidding until:
and sealed bidding). or neither stage (i) Only two
and a cash bonus in bidders remain,
one, both, or or
neither stage. (ii) More than
one bidder
offers to pay
the maximum bid
amount.
Stage-two sealed or
ascending bidding
commences at some
predetermined time
after the end of
stage-one bidding.(4) Multiple-factor bidding. Factors may include, One proposal per
but are not limited company per lease
to: technical or packaged bidding
merit, timeliness, unit.
financing and
economics,
environmental
considerations,
public benefits,
compatibility with
State and local
needs, cash bonus,
rental rate, and an
operating fee rate.------------------------------------------------------------------------
(b) You must submit your bid and a deposit as specified in Sec. Sec. 585.500 and 585.501 to cover the bid for each lease area, according to the terms specified in the Final Sale Notice.