DELAWARE — Governor John Carney and DNREC officials have finalized agreements with US Wind to bring over $128 million in renewable energy, community and lease benefits to Delaware with offshore wind. The agreements advance the development of proposed offshore wind projects.
Key components of the agreements include:
- Renewable Energy Credits: US Wind will provide 150,000 renewable energy credits annually, valued at $76 million over the projects' lifespan, to help Delaware utilities meet clean energy goals and reduce customer bills
- Community Benefits Fund: A $40 million commitment over 20 years to support coastal waterway dredging, workforce training, environmental scholarships, and resiliency projects at state parks
- State Park Lease: A 25-year lease with Delaware State Parks for underground power transmission cables, with lease payments totaling over $12 million
"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.”
US Wind CEO Jeff Grybowski supported this statement saying, “These agreements signify our continued commitment to providing meaningful and lasting benefits to the people of Delaware from our projects - Our project will deliver a massive amount of new electricity directly into the regional electric grid in Delaware, which means a lot of benefits locally."
The projects, which received federal and state approvals in December 2024, are likely to be among the first wind projects in operation in the mid-Atlantic. The projects will sell carbon-free power into the regional power grid, and this new source of power generation is projected by US Wind to lower electric costs for Delaware ratepayers by up to $253 million over 20 years. US Wind will also invest more than $200 million in transmission system upgrades.
"Additionally, the funding for dredging, resiliency and parks projects and workforce training will provide needed resources to protect and preserve Delaware's natural resources for decades to come." said DNREC Secretary Shawn M. Garvin.