Offshore Wind Developers Invest $115 Million in Maryland Manufacturing and Port Upgrades
May 25, 2017
Offshore wind developers Deepwater Wind and US Wind agreed to conditions outlined by the Maryland Public Service Commission as part of its approval of two proposals for offshore wind farms off the coast of Ocean City. The commission approved the projects because of the economic benefit they would provide for Maryland. The two companies will invest $115 million in manufacturing and port upgrades related to the development of the state's offshore wind industry. The developers will also contribute $6 million to a state offshore wind business development fund. The Public Service Commission stated that the projects will result in approximately 9,700 jobs and $1.8 billion of in-state spending over 20 years.