BALTIMORE, April 10, 2019 /PRNewswire/ -- As the developer of the nation's first commercial scale offshore wind energy project, US Wind, Inc. applauds the passage of the Clean Energy Jobs Act of 2019 by the Maryland General Assembly yesterday - the final day of its legislative session. US Wind Country Manager Salvo Vitale testified last month before the Senate Finance Committee and House Economic Matters Committee urging passage of the legislation while citing the significant economic benefits that the legislation would make possible by incentivizing the development of 1,200 MegaWatts of additional offshore wind energy off the coast of Maryland.
"With the passage of the Clean Energy Jobs Act of 2019, Maryland is reclaiming its leadership position in the fast-developing offshore wind energy sector underway in the United States," said Mr. Vitale. "The benefits are many and will prove transformational to Maryland's economy: 5,000-7,000 direct jobs, an additional $18 million to be deposited in the Offshore Wind Business Development Fund, approximately $5 billion in new capital expenditures; and thousands of tons more of carbon emissions reduced or avoided altogether. This is what visionary leadership looks like. We also pay tribute to Speaker Michael Busch who led the House of Delegates for sixteen years and passed away Sunday. He was a champion of renewable energy in the State of Maryland and we remain indebted to his tireless efforts to position Maryland in this burgeoning American industry. We are grateful to all of the members of the Maryland General Assembly who have reasserted Maryland's leadership by supporting this historic legislation and urge Governor Hogan to sign it into law without hesitation."
Similar measures have been enacted in New York, Massachusetts and New Jersey, along with other states, to incentivize nearly 20 gigawatts of offshore wind energy development. These developments have led to a surge in supply chain companies of all sizes seeking to locate new facilities throughout the East Coast in order to meet the growing needs of a burgeoning energy sector. These include turbine and cable manufacturing, steel fabricators, and marine construction companies, among others.
Maryland was the forerunner in offshore wind development with the passage of the Maryland Offshore Wind Energy Act of 2013. US Wind was successful in securing the federal lease to develop approximately 1,000 Megawatts of offshore wind energy through a competitive bid process. In May, 2017, US Wind's project was approved to receive offshore renewable energy credits (ORECs) for an initial phase, involving the placement of approximately 32 wind turbines in federal water off the coast of Maryland (as far east in its federally-designated wind energy area as practical). The MarWin project, as it's known, will generate approximately 270 Megawatt (MW) of energy, enough to power more than 76,000 homes each and every day of the year. During this Construction phase, approximately 1,298 direct jobs will be created, generating over $370 million in economic development activity in Baltimore City and Baltimore County alone.
During the Operation and Maintenance phase, expected to last 20 to 25 years, it is estimated by the independent third-party management consulting firm hired by the Maryland Public Service Commission that US Wind's project will result in nearly $850 million of in-state economic impact, and the creation of 4,116 Full-time equivalent (FTE) jobs.
About US Wind Inc. - www.uswindinc.com
US Wind, based in Baltimore, Maryland, was founded in 2011 and has established a leadership position in offshore wind energy development. US Wind has obtained the federal lease to build a 1,000 Megawatt (MW) offshore wind farm in three phases, the first of which will is underway and is expected to be operational in 2021. The total project will ultimately generate 270 Megawatt hours (MW) of energy, which is enough energy to power over 76,000 homes annually in the region. The vast scope of the fully-planned project beyond Ocean City shoreline is unparalleled, requiring private investment of approximately $2.5 billion to build and install a total of 121 offshore wind turbines, the largest such project in the United States. An independent third-party management consulting firm hired by the Maryland Public Service Commission estimates that US Wind's project will result in nearly $850 million of in-State economic impact, and the creation of over 4,000 full-time equivalent (FTE) jobs.
US Wind is fully owned by Renexia S.p.A., a leader in renewable energy development in Italy and the developer of the first offshore wind farm in the Mediterranean Sea. Renexia is a subsidiary of Toto Holding Group. Toto Holding Group has more than 40 years of experience specializing in large infrastructure construction projects, rail transportation and aviation.
SOURCE US Wind, Inc.