Uswindinc

About Uswindinc

Founded in 2011, US Wind is a developer of offshore wind projects based in Baltimore, Maryland. The company is majority-owned by the Italian renewable energy developer Renexia SpA, a subsidiary of Toto Holding SpA, with funds managed by Apollo Global Management joining as strategic investors in 2020. The company's business model centers on securing and developing large-scale offshore wind energy leases and selling the generated power through Offshore Renewable Energy Credits (ORECs).

US Wind acquired an 80,000-acre federal lease area off the coast of Maryland in 2014, which has a potential generation capacity of approximately 1,800 MW. The development of this lease area is planned in multiple phases. The first phase, MarWin, is a 300 MW project that received ORECs from Maryland in 2017. The second, larger phase, Momentum Wind, is an 808 MW project that was awarded ORECs in 2021. Together, these projects are expected to power more than 340,000 homes. In September 2024, the Bureau of Ocean Energy Management (BOEM) approved both the MarWin and Momentum Wind projects. Onshore construction could begin in 2025, pending state permits.

The company is led by CEO Jeffrey Grybowski, a veteran of the U.S. offshore wind industry who previously served as the CEO of Deepwater Wind, the company that built America's first offshore wind farm. His experience includes developing the Block Island Wind Farm and securing a 1,000 MW portfolio of offshore wind contracts. The President, Riccardo Toto, brings over 15 years of experience in finance and corporate management from the aviation and renewable energy sectors.

In conjunction with its energy projects, US Wind is establishing Sparrows Point Steel, a manufacturing facility for offshore wind components at the site of a former steel mill in Baltimore County. This initiative, supported by an investment of over $225 million, aims to create a domestic supply chain for components like monopiles and serve the broader U.S. offshore wind market. The total Maryland Offshore Wind project is projected to generate up to 2.2 GW of energy, enough to power over 718,000 homes, and support thousands of jobs during its construction and operational phases.