Renexia Group, through its subsidiary US Wind Inc., is strengthening its presence in the renewable energy sector with a major expansion of offshore wind capacity in Maryland. Recently, state legislation has introduced significant changes that facilitate this expansion, with Bill 1296 passed by the Maryland State Assembly and Bill 1161 passed by the Senate. These legislative measures are key to supporting the growth of clean energy installations, ensuring the continuity and effectiveness of efforts toward sustainability goals.

In fact, the new legislation allows developers of qualified offshore wind projects to apply to the Maryland Public Service Commission for modifications to their Offshore Renewable Energy Credits (OREC) winning projects in terms of price, capacity, technical specifications and timelines. This measure is necessitated by changes in markets in recent years and reflects an ongoing commitment to support the renewable energy sector by preventing public support approved for these projects from being arbitrarily withdrawn.

This new policy provides greater stability for offshore wind investments, solidifying Maryland’s commitment to adopting and promoting advanced and sustainable energy technologies. The legislative initiative is strategic not only to maintain the state’s environmental commitments, but also to stimulate economic growth through sustainable development.

US Wind, an energetic player in offshore wind in the U.S. and on the East Coast, is investing in this strategic opportunity by managing an approximately 80,000-acre area along the Maryland coast, which will be capable of producing nearly 1,800 megawatts of energy. The recent approval by the Bureau of Ocean Energy Management (BOEM) of an environmental impact statement on the wind farm’s construction and operation plan is another important step toward obtaining final permits, which are expected in late 2024.

In addition, US Wind’s major project includes the construction of the first permanent factory to produce essential components for the offshore wind industry. The factory, located on the historic site of a former shipyard in Baltimore County will contribute to the region’s industrial renaissance, creating jobs and promoting local growth.

This is a breakthrough for Maryland’s offshore wind program“ , said Riccardo Toto, President of US Wind and General Manager of Renexia.““We are grateful for the Maryland government’s unwavering support and strong leadership on this critical piece of legislation. US Wind is here to stay.I am confident that we will build Maryland’s first offshore wind farm on schedule.
We will provide clean energy to the people of the DelMarVa region for years to come ”.

In conclusion, as Renexia and U.S. Wind continue with their mission to expand into offshore wind energy, Maryland’s recent legislative measures prove crucial to ensuring the stability and growth of the industry. These developments not only highlight a commitment to a cleaner, more sustainable energy future, but also demonstrate the potential for effective integration between institutions and businesses for long-term sustainability goals.

“The company is proud to be able to make a major contribution to the decarbonization journey that Maryland has embarked on, having always believed in the worthiness of the project that will ensure clean energy, significant investment in support of economic development, and strong synergy with the communities that will benefit” concludes Riccardo Toto.”