The Maryland Energy Administration (“MEA”) announces the Maryland Offshore Wind Capital Expenditure Program ( “Program”) for Fiscal Year 2023, which is funded through the Maryland Offshore Wind Business Development Fund, established by Md. Code Ann., State Gov’t, § 9-20C-03. The Program is a non-competitive grant program that assists new or existing businesses enter the offshore wind supply chain in Maryland by offsetting their capital expenditure investments. Proposed projects must provide goods and services to the offshore wind industry in Maryland, while also intending to serve the larger U.S. offshore wind market and related industries.
MEA will consider applications from new or existing emerging businesses, including minority-owned emerging businesses, seeking to enter the offshore wind industry. MEA will also consider applications from businesses willing to relocate or expand into Maryland contingent upon receiving a grant award.
A total budget of $1,600,000 for Fiscal Year 2023 is anticipated to be available. The amount awarded may vary depending on the quantity and quality of applications received and MEA’s available resources within the fiscal year. MEA calculates grant awards as 50 percent of the total project costs. Grant awards may not exceed $400,000. Applicants must contribute at least 50 percent of the total project costs as matching funds or in-kind services. Matching funds may include, but are not limited to, finance/loan agreement, cash on hand, a business line of credit, and other grant awards (state, federal, or private).