in News Departments > New & Noteworthy
print the content item

Exelon Corp. and Constellation Energy Group have increased their respective commitments related to their proposed merger, according to a Maryland Public Service Commission (PSC) filing.

The companies say the deal - which the PSC is currently reviewing - includes a package of benefits totaling more than $445 million in investment in Maryland, which is projected to create more than 2,400 jobs in the state.

According to the filing, Exelon and Constellation have committed to:
  • Build 175 MW of new generation in Maryland, including 55 MW of wind or solar capacity, which would increase the state’s total renewable capacity by more than 30%. The new generation projects will be built within the state, for a total projected investment of between $220 million and $280 million;
  • Construct - not renovate - a brand-new Constellation headquarters building in Baltimore, adding more than 1,100 jobs to Maryland’s economy through direct, indirect and induced effects, for a total projected investment of $95 million to $120 million;
  • Allow Baltimore Gas & Electric (BGE) to retain its capital in lieu of paying dividends to Exelon through 2014 to ensure BGE can continue to support its significant level of investment in key customer and reliability-related initiatives; and
  • Ensure a majority of BGE’s board of directors reside or have a principal place of business in Maryland.

IOWA Economic Development id2073

Trachte_id2056
Latest Top Stories

Slow Turning: What's Stopping Individual Blade Pitch Control From Wider Acceptance?

Advances have made it feasible for wind turbine blades to adjust individually. However, other factors are preventing the technology's widespread use.


Deepwater Hits Financial Close For Block Island Wind Farm, Expects Summer Construction

The Providence, R.I.-based offshore wind developer becomes the first to financially close on a U.S.-based offshore wind project.


More Investors Entering Tax Equity Market; Returns Holding Steady

The entry of new tax equity investors to the wind space last year re-ignited an old debate.


Report: Top 10 Turbine OEMs Had Record Year In 2014

Preliminary findings suggest Vestas reigned supreme again among the world's leading wind turbine makers. How did some of the other OEMs fare?


AWEA's Gramlich To FERC: Additional Transmission Needed Regardless Of Clean Power Plan

To further build a more balanced and reliable electricity portfolio, the U.S. needs to build more transmission capacity.

Hybrid Energy Innovations 2015