Coastal Virginia Offshore Wind (CVOW) — 2,600 MW offshore wind, 27 miles off Virginia Beach, Virginia (PJM) — 50% noncontrolling stake
Stonepeak acquires 50% noncontrolling interest in Dominion's Coastal Virginia Offshore Wind. Largest US offshore wind project. Stonepeak funds 50% of remaining capex. Total project cost capped at $11.3B (extended); completion targeted year-end 2026. Closed October 24, 2024.
$2.60B
Deal Value
2,600MW
Capacity
Offshore Wind
Technology
VA
Location
Deal Details
- Deal Type
- Project & Portfolio M&A
- Seller / Sponsor
- Dominion Energy
- Buyer / Financier
- Stonepeak Infrastructure Partners
- Offtaker
- Virginia ratepayers
- Deal Value
- $2.6B (50% stake)
- Stage
- Construction
- ISO/RTO
- PJM
- Source
- Stonepeak
Related Deals
RFP for solar, onshore wind, and energy storage PPAs — multi-GW procurement
Multiple → Dominion Energy Virginia / North Carolina
Coastal Virginia Offshore Wind (CVOW) — First Commercial Power — 2,600 MW project, Virginia Beach offshore
Dominion Energy → Dominion Energy Virginia (regulated utility)
1.5B
Frye Solar (632 MW TX) + Jicarilla Solar (125 MW NM) + 20 MW co-located BESS — Repsol US operating renewables (46.3% stake)
Repsol → Stonepeak Infrastructure Partners
$340M (46.3% stake; portfolio EV $735M)
Enel Green Power NA geothermal and solar portfolio — Cove Fort (UT), Stillwater & Salt Wells (NV), solar assets (CT)
Enel Green Power North America → Ormat Technologies
$271M
STX Midstream — South Texas natural gas pipeline assets (NET Mexico pipeline 90% interest, Dos Caminos 50% interest)
NextEra Energy Partners → Kinder Morgan
$1.815B
Triple Oak Power — 8 GW onshore wind development platform focused on central and western US markets
EnCap Investments → Energy Capital Partners
$500M-$750M
Get deals like this in your inbox
Free weekly clean energy deal intelligence. Every Monday.