The first-ever federal auction of floating offshore wind power sites off the Pacific coast ended Wednesday with bids totaling $757 million. When fully developed, the sites could power 1.5 million homes. 

The turbines will float in water as much as half a mile deep more than 20 miles off the California coast and send electricity ashore via cables along the seabed. The money paid by the five winning companies will go to the U.S. Treasury.

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