Customize Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorized as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

No cookies to display.

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyze the effectiveness of the ad campaigns.

No cookies to display.

Dominion Energy Advances Virginia Offshore Wind Project Amidst Industry Challenges

Dominion Energy's Coastal Virginia Offshore Wind pilot turbines. (Credit: Dominion Energy)

Dominion Energy's CVOW commercial venture marked a significant milestone with the arrival of its first eight monopile foundations at Portsmouth Marine Terminal, setting the stage for the 2.6-GW project's installation set for spring 2024.

These foundations, single vertical steel cylinders crafted by EEW SPC, will be embedded into the sea bed, providing pivotal support for the generators.

“The project continues to progress smoothly through the federal permitting phases,” a Dominion representative mentioned, noting the recent of the Final Environmental Impact Statement from the Bureau of Ocean Energy Management (BOEM). An imminent BOEM Record of Decision on the CVOW project is keenly awaited.

In a strategic shift, Dominion Energy is contemplating divesting a non-controlling equity stake in the CVOW initiative. “Incorporating an equity financing partner into the CVOW initiative will not only attenuate our external equity financing requisites but also anchor long-term corporate stability,” expressed Dominion Energy CEO Robert Blue during a review of the company's regulated operations.

The U.S. offshore wind landscape, despite witnessing some turbulence with projects like Revolution Wind 2 and facing pullouts due to financial constraints, remains optimistic.

Reflecting on the broader industry scenario, the 's U.S. Offshore Wind Quarterly Market Report highlighted an encouraging trend: “While we've documented substantial investments and policy advancements from July to September 2023, it's heartening to observe projects like Vineyard Wind and nearing operational status. The approved construction project pipeline has burgeoned threefold, with more ventures on the brink of final approvals.”

Such trends emphasize the resilient spirit of the U.S. offshore wind sector, determined to forge ahead despite periodic setbacks.

Add a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Keep Up to Date with the Most Important News

By pressing the Subscribe button, you confirm that you have read and are agreeing to our Privacy Policy and Terms of Use