
The Delaware government has finalized agreements with US Wind to bring renewable energy, community benefits, and lease payments worth over $128 million to the state. This milestone follows federal and state approvals for US Wind’s Maryland Offshore Wind Project, consisting of the MarWin and Momentum phases.
The agreements, signed by Governor John Carney and the Delaware Department of Natural Resources and Environmental Control (DNREC), include significant benefits:
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Renewable Energy Credits (RECs): Delaware utilities will receive 150,000 RECs annually from wind generation, valued at $76 million over the project lifecycle. These credits will help utilities meet clean energy mandates and lower customer bills.
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Community and Environmental Investments: US Wind will allocate $40 million over 20 years to coastal waterway dredging, clean energy workforce training, environmental scholarships, and resiliency projects in state parks.
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Land Lease Agreement: A 25-year lease with Delaware State Parks will allow underground power transmission cables, with US Wind contributing over $12 million in lease payments.
The Maryland Offshore Wind Project aims to be among the first operational wind energy sources in the mid-Atlantic. By selling carbon-free power to the regional grid, US Wind projects a reduction in electricity costs for Delaware residents by up to $253 million over 20 years.
US Wind will also invest over $200 million in transmission system upgrades, further enhancing the regional energy infrastructure.
“With the recent federal and state project approvals, we are ready to reap the environmental, health, workforce, energy cost, and community benefits from this needed transition to renewable energy,” said Governor Carney. “Delawareans will benefit in numerous ways from this important agreement.”
Source: renews.biz