- Published: 12 May 2017 12 May 2017
The Maryland Public Service Commission has awarded offshore wind renewable energy credits (ORECs) to two projects to be built off the coast of Maryland. The decision enables U.S. Wind (248MW) Skipjack Offshore Energy (120MW) to construct 368MW of capacity. Each company is awarded ORECs at a levelised price of US$ 131.93 per megawatt-hour (MWh) for a term of 20 years, beginning in January 2021 for U.S. Wind and 2023 for Skipjack.
The Commission attached nearly 30 conditions to the approval, including requirements that the developers create a minimum of 4,977 direct jobs during the development, construction and operating phases of the projects; pass 80 per cent of any construction costs savings to ratepayers; and contribute US$ 6 million each to the Maryland Offshore Wind Business Development Fund. The companies will be required to use port facilities in the greater Baltimore region and Ocean City for construction and operations and maintenance activities. The developers must invest collectively at least US$ 76 million in a steel fabrication plant in Maryland and together fund at least US$ 39.6 million to support port upgrades at the Tradepoint Atlantic (formerly Sparrows Point) shipyard in Baltimore County. Each company must notify the Commission by May 25, 2017 whether it accepts the conditions of approval contained in the order.