Delaware will receive an estimated $76 million in renewable energy credits as part of an agreement to allow US Wind’s Maryland-based off-shore wind project to include Delaware components.

DNREC approved permits in December to allow US Wind to put 15 miles of underwater/underground cable along a path from the Atlantic Ocean south of the Indian River Bridge to the Indian River Power Plant near Millsboro.

At the time, US Wind said they were committing funding to help commercial fishermen and shellfish harvesters who could be impacted by the dredging to dig the cable under the Indian River (Bay), but now the statewide benefits have been declared.

DNREC’s State Energy Office will receive 150,000 renewable energy credits connected to the off-shore turbines, which is estimated at $76 million over the life of the project.

The state parks component described by DNREC is worth an estimated $40 million over 20 years, while the leasing of the land and underwater area for the transmission cables have another $12 million of value over 25 years.

A press release says Delaware electric users will see a total reduction of up to $253 million over 20 years.

“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 John Carney. “Delawareans will benefit in numerous ways from this important agreement.”

“These agreements signify our continued commitment to providing meaningful and lasting benefits to the people of Delaware from our projects,” said Jeff Grybowski, US Wind CEO. “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. Specifically, we will fund over $200 million in upgrades to the transmission system, resulting in a much stronger and more reliable local grid and good jobs for local electrical workers. Delivering this new electricity to the power grid in Delaware will also lower electricity bills for Delawareans, including Sussex County residents. We’re grateful for the continued partnership with the state and look forward to working together for years to come.” 

In addition to Delaware’s portion, US Wind has promised more than $75 million for Maryland’s ports.