MEA Announces Fiscal Year 2023 Maryland Offshore Wind Capital Expenditure Grant Program
FOR IMMEDIATE RELEASE
Contact: Jahmai Sharp-Moore | 443-694-3651
Baltimore, MD – The Maryland Energy Administration (MEA) is excited to announce $1.6 million in available funding for the Fiscal Year 2023 (FY23) Maryland Offshore Wind Capital Expenditure Grant Program. This program will assist new or existing emerging businesses enter the offshore wind supply chain in Maryland by offsetting their capital expenditure investments. Grant funds will be awarded on a first-come first-serve basis for qualifying proposals until January 1, 2023, or until all funding has been awarded.
Offshore wind remains a growing industry and grant funds are provided to awardees to offset capital expenditures required to enter the offshore wind supply chain. Proposed projects must provide a positive net economic benefit to the state and local communities through job opportunities while encouraging diversity, inclusion, and equity in their business operations. Proposed projects should also be designed to serve the larger U.S. offshore wind market and related industries.
MEA calculates grant awards as 50% of the total project costs. Grant awards may not exceed $400,000. Applicants must contribute at least 50% of the total project costs as matching funds or in-kind services.
The program is open to emerging businesses, including minority-owned emerging businesses located in, or relocating to Maryland. MEA strongly encourages emerging businesses representing and working to empower Maryland’s underserved communities (including minorities, women, and people with disabilities) and veterans of the United States Armed Forces to apply to the program.
Applicants interested in learning more about offshore wind in Maryland and how to get involved can find additional information here.
Questions about the program and application can be directed to Emma Stoney at Emma.Stoney@maryland.gov or (410) 382-1605.