Dominion Energy receives approval for $9.8 bn Coastal Virginia wind project

Dominion Energy

Dominion Energy has received approval from the Virginia State Corporation Commission for the 2.6-gigawatt Coastal Virginia Offshore Wind (CVOW) project to be constructed 27 miles off the coast of Virginia Beach.

Dominion Energy aims to construct the project in 2026 and generate enough clean energy to power up to 660,000 homes.

The offshore wind project requires an investment of approximately $9.8 billion.

Offshore wind turbines have no fuel costs, which is beneficial considering the recent rise in fuel costs across the country. The wind power project is expected to save Virginia customers more than $3 billion during its first 10 years in operation.

Offshore wind’s economic development and jobs benefits are transformative for Hampton Roads and the Commonwealth, including diverse communities.

As part of its order, the SCC granted approval for approximately 17 miles of new transmission lines and other onshore infrastructure needed to deliver the clean, renewable energy offshore to homes and businesses across Virginia, Dominion Energy said.