The Maryland Energy Administration recently announced $1.6 million in funding for expanding the state’s offshore wind supply chain.
The Maryland Energy Administration (MEA) recently announced $1.6 million in available funding for the Fiscal Year 2023 (FY23) Maryland Offshore Wind Capital Expenditure Grant Program. This program will assist new or existing emerging businesses enter the offshore wind supply chain in Maryland by offsetting their capital expenditure investments. Grant funds will be awarded on a first-come first-serve basis for qualifying proposals until January 1, 2023, or until all funding has been awarded.
Offshore wind remains a growing industry and grant funds are provided to awardees to offset capital expenditures required to enter the offshore wind supply chain. Proposed projects must provide a positive net economic benefit to the state and local communities through job opportunities while encouraging diversity, inclusion, and equity in their business operations. Proposed projects should also be designed to serve the larger U.S. offshore wind market and related industries.
Offshore wind represents one of the best avenues for Maryland to reduce its reliance on fossil fuels. Earlier this summer, the Interior Department’s Bureau of Ocean Energy Management (BOEM) announced a review of a major offshore wind project off the coast of Worcester County. According to Maryland Matters:
…Under consideration, according to BOEM, is US Wind’s proposal to build and operate an offshore wind project with a total capacity to deliver between 1,100 and 2,000 megawatts of renewable wind energy to the Delmarva Peninsula, which could power as many as 650,000 homes in Maryland, Delaware and Virginia each year.
The project would include the installation of up to 121 turbines, up to four offshore substation platforms, one meteorological tower and up to four offshore export cable corridors, which are planned to connect to a substation at either 3 R’s Beach or Tower Road in Delaware Seashore State Park in Rehoboth Beach, Delaware.
The grants being rolled out by the MEA will go a long way in helping to develop offshore wind projects both in Maryland and nationally. This investment help to spur sustainable clean energy jobs, equating to a greener energy grid and a more dynamic statewide economy.