HISTORIC MILESTONE FOR RENEXIA AND RENEWABLE ENERGY: US WIND GETS APPROVAL FOR GROUNDBREAKING OFFSHORE WIND PROJECT

The White House recently gave the green light to an ambitious and innovative renewable energy project. US Wind, an 80 percent subsidiary of Renexia, has received approval to build a massive offshore wind farm in Maryland waters. This $11.5 billion project is a significant step toward US clean energy goals and confirms Renexia’s leadership position in the offshore wind industry.

The project: data, power, production and economic impact

The 1.7 GW wind farm will span a marine area of about 324 square kilometers off the Maryland coast. When completed, it will produce 7 TWh of energy annually , enough to power 700,000 households. This translates into an estimated annual revenue of about $1.5 billion for the next 30 years, highlighting not only the positive environmental impact but also the significant economic potential of the project.

The project in Maryland will not only generate clean energy and stimulate the local economy, creating more than 2,600 direct and induced jobs, but it will also serve as a catalyst for the development of a robust industrial supply chain in the wind sector. This vision extends across the Atlantic, with Renexia aiming to make Italy an international reference point in the offshore and onshore wind sector, as demonstrated by the Med Wind project off the coast of Trapani.

The approval of this project marks the Biden-Harris Administration’s 10th authorization in the commercial-scale offshore wind sector, bringing the total federally approved capacity to 15 GW. This milestone is an important step toward the ambitious goal of 30 GW of offshore wind power by 2030, underscoring the U.S. commitment to the transition to renewable energy sources.

“We are pleased to have received the trust of the U.S. government for the project in Maryland and thus be able to contribute to the decarbonization path initiated by the U.S.”, commented Riccardo Toto, Renexia’s CEO and President of US Wind.

Renexia’s vision: between the U.S. and Italy

In parallel with the wind project, US Wind is investing about $95 million in the construction of a factory, near the Sparrow Point industrial site, to produce key components for the U.S. offshore wind industry. This integrated approach, involving both power generation and the industrial supply chain, is a model that Renexia intends to replicate in Italy, as demonstrated by the recent agreement with Mimit and MingYang to build a wind turbine factory in our country.

The approval of this project represents not only a success for US Wind and Renexia, but a significant step toward a more sustainable energy future, both in the United States and in Italy. It demonstrates how innovation in the renewable energy sector can bring tangible benefits in terms of environmental sustainability, economic growth and job creation.