Transactions - MAY 15, 2017

Maryland OKs nation’s largest offshore wind plan

by Andrea Waitrovich

The Maryland Public Service Commission has approved plans for two projects off Maryland’s Eastern Shore near Ocean City.

The Maryland Public Service Commission awarded U.S. Wind of Baltimore and Skipjack Offshore Energy, a subsidiary of Deepwater Wind, to build a total of 368 megawatts of capacity. The two projects need federal approval.

U.S. Wind’s proposal is to build 62 turbines between 12 and 15 nautical miles offshore to generate 248 megawatts. It will cost an estimated $1.4 billion to build. Skipjack’s plan is for 15 turbines between 17 and 21 miles offshore to produce 120 megawatts. It will cost about $720 million to build.

U.S. Wind’s project is expected to be operational in early 2020. And Skipjack estimates its operation will start near the end of 2022.

The PSC said the two projects are expected to yield more than $1.8 billion of in-state spending. The agency estimates the projects will create nearly 9,700 new direct and indirect jobs and contribute $74 million in state tax revenues over 20 years.

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