Maryland Offers $700,000 To Help Spur Early Offshore Wind Investments

NAW Staff, Friday 21 March 2014 - 11:42:53

The Maryland Energy Administration (MEA) has launched a $700,000 grant initiative designed to help Maryland businesses become integral participants in the global offshore wind market.

The Market Entry Assistance Grant Program is the first initiative to originate from the Offshore Wind Business Development Fund, and the funds are aimed to reduce the costs associated with establishing commercial offshore wind sector exports.

The program will provide two types of grant assistance: administrative costs grants will be available to cover up to $25,000 for organizational needs, and capital equipment and facility upgrades grants for amounts up to $500,000 will offer financial support for significant equipment investments.

"It is important that we support innovative Maryland businesses that seek a dominant position in the offshore wind supply chain with products that challenge the established European market," says Abigail Ross Hopper, director of the MEA.






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