The Department of the Interior's Bureau of Ocean Energy Management has approved US Wind's project offshore Maryland, which marks the 10th approval of a commercial-scale offshore wind project by the Biden Administration.
With this, more than 15 gigawatts of offshore wind projects have been approved in the U.S., which is enough to power 5.25 million homes, and equivalent to half of the capacity needed to achieve the 30 gigawatt goal.
US Wind's project offshore Maryland will provide up to 2,200 megawatts of clean, reliable renewable energy for the Delmarva Peninsula and power up to 770,000 homes, according to the White House.
The development and construction phases of the project by the Baltimore-based offshore wind energy development company are estimated to support up to an estimated 2,679 jobs annually over seven years.
The tenth offshore wind project approval reflects collaboration across federal agencies, as part of comprehensive Administration efforts to improve the federal permitting process.
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January 30, 2026 15:51 ET The Federal Reserve policy decision was the main event in the final week of January, which saw a heavy flow of economics news. Several data reflecting the trends in the U.S. economy were also released during the week. The interest rate decision from Canada also was in focus. In Europe, economic sentiment data gained attention. The policy decision from Singapore was the highlight in Asia.