There may be only 30 megawatts of offshore wind capacity in American waters today, but several early bets on the market have paid off in spectacular fashion — and US Wind ranks high on that list.

US Wind, a relatively small developer owned by Italy’s Toto Holdings, was an early mover in securing East Coast offshore sites through the federal government’s lease auctions.

In 2014 it paid $9 million for a Maryland offshore wind zone. A year later, with confidence in the market sagging after the collapse of the Cape Wind project, it paid just $1 million for another huge area facing New Jersey.

Fast forward to late 2018, and the developer sold its New Jersey offshore lease area to EDF Renewables for a whopping $215 million, with more possibly to come, as global developers scrambled to lock down projects in U.S. waters.