Sunday, July 21, 2024 | Baltimore, MD

Md. offshore wind developer announces ‘repositioning’ of project, seeks new financial support

January 26, 2024
white electic windmill

Maryland’s nascent offshore wind energy industry suffered a major blow late Thursday when one of the two companies planning to install wind turbines off the coast of Ocean City announced that it was pulling out of its agreement with the state and seeking alternative financial arrangements to keep the project going. Ørsted, the world’s largest developer of offshore wind, emphasized that it was still committed to building its project in federal waters, but that it was opting out of the agreement it had reached with the Maryland Public Service Commission for financial clean energy credits intended to help fund the development.

Article Source: Maryland Matters

The Morning Rundown

We’re staying up to the minute on the issues shaping the future. Join us on the newsletter of choice for Maryland politicos and business leaders. It’s always free to join and never a hassle to leave. See you on the inside.