On Wednesday, Gov. Wes Moore and the Maryland Department of General Services (DGS) announced a 20-year agreement to purchase solar energy generated in Western Maryland, a deal state officials say could save Maryland approximately $300 million while expanding the state’s use of renewable energy.
The agreement with REV Renewables will provide approximately 250,000 megawatt-hours of renewable electricity annually beginning in 2028 from the Jade Meadow III Solar Project. The 300-megawatt project will be located primarily on a reclaimed coal mine in Garrett County, with DGS purchasing approximately half of the electricity generated for state energy accounts.
According to DGS, the agreement is projected to save between $298 million and $515 million over its 20-year term, depending on future electricity market conditions. The electricity purchased annually is equivalent to the amount used by more than 20,000 homes and is expected to supply nearly 15% of the state’s electricity portfolio beginning in 2028.
The Maryland Board of Public Works approved the agreement Wednesday. State officials said the deal will double the amount of renewable electricity Maryland currently purchases directly through long-term power purchase agreements.
