Dominion Energy has reached a major milestone in the development of the 2.6-GW Coastal Virginia Offshore Wind (CVOW) project, receiving approval from the Virginia State Corporation Commission (SCC) for construction
The schedule for CVOW calls for construction to be completed in 2026, when it will generate enough clean energy to power up to 660,000 homes.
The final order from the SCC affirms that CVOW meets all Virginia statutory requirements for cost recovery and the issuance of a Certificate of Public Convenience and Necessity for onshore infrastructure. The order also includes a performance requirement but does not outline the details surrounding that requirement.
Dominion Energy chair, president and chief executive Robert Blue said, “Our customers expect reliable, affordable energy, and offshore wind is key for delivering on that mission.
“We are pleased that the commission has approved this important project that will benefit our customers. We are reviewing the specifics of the order, particularly the performance requirement.”
CVOW represents a US$9.8Bn investment and is the largest project of its kind in the US. Dominion Energy said the project is expected to save Virginia customers more than US$3Bn during its first 10 years in operation. However, if these ongoing commodity market pressure trends continue, those savings could total up to nearly US$6Bn – almost double the savings.
“Offshore wind’s economic development and jobs benefits are transformative for Hampton Roads and the Commonwealth,” said the company. “CVOW could create hundreds of direct and indirect jobs during construction and more than a thousand during operations, while attracting companies to make investments to make Virginia a hub for offshore wind.”
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 energy generated offshore to homes and businesses in Virginia.
