Ocean City, Md. — Offshore wind company Deepwater Wind announced plans for the Skipjack Wind Farm, a new offshore wind farm that will help Maryland meet its clean-energy goals at far lower prices than state law anticipates, saving Maryland ratepayers millions of dollars.

The Skipjack Wind Farm will not only be the state’s largest renewable energy project, it also would be the right size for Maryland’s first offshore wind farm. At 120 megawatts (MW), the Skipjack Wind Farm could be built in a single construction season, and developed more cost-effectively, and with considerably less risk, than a larger project.

At more than 17 nautical miles northeast of Ocean City’s coastline, the project won’t impact views from Maryland’s shore. Deepwater Wind has secured the rights to acquire the site’s federal lease, subject to regulatory approval.

“We’re bringing down the cost of American offshore wind energy in a big way,” said Deepwater Wind CEO Jeffrey Grybowski. “Ratepayers in Maryland will benefit from energy that is both clean and affordable. The Skipjack Wind Farm is the right clean energy solution for Maryland, and we’re ready to get to work.”

The Skipjack Wind Farm is expected to generate well over $100 million in economic benefits for Maryland. Deepwater Wind will make significant investments in the state of Maryland and employ hundreds of local workers during the project’s construction.

Deepwater Wind has filed an application with the Maryland Public Service Commission for approval of the Skipjack Wind Farm. If approved, local construction work could begin as early as 2020, with the project in operations in 2022.

Deepwater Wind is the only company to construct an offshore wind farm in the United States. The company’s 30-MW Block Island Wind Farm is on schedule to begin commercial operations this winter. The company is also in the early stages of development of its South Fork Wind Farm, a 90-MW offshore wind farm located in federal waters 30 miles east of Montauk, N.Y., that is scheduled to become operational in 2022.