Coastal Virginia Offshore Wind (CVOW) — 2.6 GW offshore wind, 24 nm off Virginia Beach
Virginia State Corporation Commission (SCC) issues Certificate of Public Convenience & Necessity for Dominion's 2.6 GW Coastal Virginia Offshore Wind. December 2022 settlement caps recoverable project costs at $10.3B; 50% of cost overruns above that borne by Dominion (not ratepayers). Largest US offshore wind project under development. Federal approval Oct 30, 2023. First power 2026.
$10.30B
Deal Value
2,600MW
Capacity
Offshore Wind
Technology
VA
Location
Deal Details
- Deal Type
- Project Finance
- Seller / Sponsor
- Dominion Energy Virginia
- Buyer / Financier
- Dominion Energy + ratepayer recovery (subject to settlement)
- Deal Value
- $10.3B project budget cap (50% over above borne by project owners under settlement)
- Stage
- Development
- ISO/RTO
- PJM
- Source
- Dominion Energy
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