After Early Windfall, Offshore Developer Settles In for Long Game in Maryland

By [email protected] There may be only 30 megawatts of offshore wind capacity in American waters today, but several early bets on the market have paid off in spectacular fashion — and US Wind ranks high on that list.

US Wind, a relatively small developer owned by Italy’s Toto Holdings, was an early mover in securing East Coast offshore sites through the federal government’s lease auctions.

In 2014 it paid $9 million for a Maryland offshore wind zone. A year later, with confidence in the market sagging after the collapse of the Cape Wind project, it paid just $1 million for another huge area facing

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