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Dominion to sell 50% interest in offshore wind farm
Dominion Energy announced Feb. 22 it had reached an agreement with investment firm Stonepeak to sell a 50% noncontrolling stake in the utility‘s Coastal Virginia Offshore Wind project for nearly $3 billion. The deal is expected to close by the end of 2024, if approved by the Virginia State Corporation Commission and the North Carolina […]
Lambert’s Point Docks in Norfolk to become $100M maritime center
In a deal predicted to bring more than 500 jobs and over $100 million in capital investment, the Lambert’s Point Docks property in Norfolk will become a maritime operations and logistics center to support local offshore wind, defense and transportation industries. The land, owned by Norfolk Southern Railway Co., has been leased by Virginia Beach-based […]
Southwest Va. project will help manufacturers enter wind energy supply chain
Public-private campaign InvestSWVA announced Tuesday the launch of an economic development initiative designed to help Southwest Virginia manufacturers find entry points in the supply chain for wind energy equipment components. The initiative, called Project Veer, will connect Southwest Virginia manufacturers with industry experts, public sector partners, the Hampton Roads Alliance, Dominion Energ[...]
Dominion offshore wind farm cost climbs to $9.8B
Dominion Energy Inc.’s offshore wind farm will cost about $2 billion more than expected, the Richmond-based Fortune 500 utility‘s chair, president and CEO, Bob Blue, said during a third quarter earnings call Friday. Instead of the previously estimated $7.8 billion, the 2.6-gigawatt Coastal Virginia Offshore Wind (CVOW) commercial project will cost approximately $9.8 billion, Blue [&hel[...]
