Md. Approves Credits For Large Offshore Wind Projects

Law360, New York (May 11, 2017, 7:38 PM EDT) -- The Maryland Public Service Commission on Thursday approved vital credits for two major offshore wind energy projects that together are expected to produce almost 370 megawatts of power, according to a statement from the commission.

U.S. Wind Inc. and Skipjack Offshore Energy LLC were awarded offshore wind renewable energy credits that will be in effect for 20 years. The credits, a financing method that allows project costs to be passed onto consumers, are predicted to cost $1.40 a month for residential customers and were enabled by the Offshore Wind Energy Act, which Maryland passed in 2013.

"The approval today of the...

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