The Italian group, through a total investment of $11.5 billion, will supply clean energy to 700 thousand households, generate 30-year operating revenues worth $45 billion, and create employment for more than 2,600 resources
Rome, Sept. 6, 2024. As disclosed in a White House statement, the U.S. government, through the federal agency BOEM (the agency in charge of concessions for offshore projects), has approved the construction of the 1.7 GW offshore wind farm in Maryland under US Wind, the U.S. company controlled 80 percent by Italy’s Renexia of the Toto Group and 20 percent by the U.S. fund Apollo. The project, which involves a total investment of $11.5 billion and will generate 7 TWh annually with an estimated value of about $1.5 billion, represents the Biden-Harris Administration’s tenth commercial-scale offshore wind approval, totaling 15 GW of power at the federal level, an important milestone toward the goal of 30 GW by 2030.
US Wind’s project, when completed, will insist on a marine area, off the coast of Maryland, of about 324 square kilometers, and involves the installation of fixed-foundation wind turbines, distributed in three clusters, that will provide clean energy to the people of the DelMarVa region. The concession is for 30 years and production is expected to start by 2028, enabling the creation of more than 2,600 direct and indirect jobs. “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 path of decarbonization started by the United States,” commented Riccardo Toto, DG of Renexia and President US Wind.
At the same time, as required by federal agreements, US Wind is also building, thanks to an investment of about $95 million, a factory for the production of important components for the U.S. offshore wind industry supply chain, near the Sparrow Point industrial site. “This production model, which also implies a management role in the industrial supply chain for us is absolutely functional and we will replicate it in Italy thanks to the agreement recently signed with MIMIT and MingYang for the construction in our country of a factory specialized in the construction of wind turbines,” Toto adds. The factory that will be built will contribute through the supply of turbines to the construction of Med Wind, the largest offshore floating wind farm project in the Mediterranean Sea, off the coast of Trapani. The Sicilian project represents the ideal trigger for the creation of a wind industrial chain, both offshore and onshore, that will make Italy an international reference point in a sector with high potential.
