The Maryland Public Service Commission (PSC) approved a plan to award additional offshore wind (OSW) renewable energy credits to US Wind Inc.’s 1,710 MW Maryland OSW Project. In its January 24 order, the PSC awarded the capacity that was left over when Ørsted A/S pulled out of its contracts for the Skipjack project—a combined 966 MW project under development off the coast of the Delmarva peninsula off the coast of Maryland—in January 2024.
After the Ørsted project fell through, the PSC held a new proceeding, known as Round 2, and approved US Wind for nearly 7 million OSW renewable energy credits. US Wind was the only developer to file an application in the round.
US Wind is developing the project in four phases – Phase I is expected to begin commercial operations in 2029, while the second, third and fourth phases are expected to reach commercial operation in 2030. The OSW renewable energy credit schedules will begin in 2031, according to the PSC order.
Two phases, known as MarWin and Momentum Wind, have already received OSW renewable energy credits.
A 2023 Maryland law established a goal of installing 8,500 MW of OSW by 2031. Despite the new administration halting offshore leasing in federal waters and paused both offshore and onshore wind permits, raising uncertainty in the US wind industry, the PSC’s analysis demonstrates the importance of this project in providing emission-free energy, jobs, economic opportunity, and cost benefits to Maryland ratepayers.
US Wind is owned by Renexia SpA, a subsidiary of Italian engineering firm Toto Holding SpA and asset manager Apollo Global Management Inc. The company recently also reached a $76 million renewable energy credit deal with Delaware’s government.