US Wind Inc - the Baltimore-based company responsible for developing one of the nation's largest commercial offshore wind energy project in Maryland - welcomes the Hogan Administration's decision to allow the Clean Energy Jobs Act (Senate Bill 516) to take effect while also pursuing the goal of achieving 100% of clean energy electricity by 2040.
"We look forward to partnering with the Administration in realizing the ambitious goal outlined in the Clean and Renewable Energy Standard (CARES) initiative that would require a hundred percent of low- to zero-carbon energy sources in the coming years," said Salvo Vitale, Country Manager of US Wind Inc. "Offshore wind is one of the few clean, renewable energy sources that must provide in-state jobs and is key to generating clean air benefits for for all Marylanders. The additional offshore wind goal called for in the Clean Energy Jobs Act will help reassert Maryland's position as a leader in offshore wind energy generation while also delivering significant economic and job-creation benefits and clean energy independence within the State for generations to come. We are committed to doing our part to ensure that these ambitious and admirable objectives become reality." Unlike other energy sources, offshore wind is required by current Maryland law to produce an economic, environmental and health "net benefit" to the state and its ratepayers.
Mr. Vitale previously testified before the Senate Finance Committee and House Economic Matters Committee urging passage of the Clean Energy Jobs Act, 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.
The benefits of the legislation are significant for Maryland's economy, resulting in the creation of between 5,000 and 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.
Earlier this week, US Wind announced that it has signed an agreement with EPIC Applied Technologies for the installation of its Meteorological Tower beginning this summer, marking a key milestone in the advancement of its Maryland offshore wind project which is expected to be operational within 2023. US Wind will install up to 32 wind turbines at a distance of approximately 17 miles off the coast of Ocean City that will eventually produce 268 megawatts of offshore wind energy, an amount sufficient to provide 76,000 Maryland homes with clean, renewable energy. It is anticipated that the US Wind project will result in the creation of approximately 7,000 direct and indirect jobs and represent an in-state investment of nearly $1.5 billion.
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.
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.