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SCC approves Dominion’s $9.8B offshore wind farm
The State Corporation Commission has approved Dominion Energy Inc.’s application for the proposed $9.8 billion Coastal Virginia Offshore Wind Project (CVOW), which calls for the construction of 176 wind turbines 27 miles off the coast of Virginia Beach. The Richmond-based Fortune 500 utility has already erected two pilot turbines for its 2.6-gigawatt Coastal Virginia Offshore […]
Tilting toward windmills
Siemens Gamesa Renewable Energy S.A.’s October 2021 announcement that it will build the nation’s first offshore-wind blade factory at Portsmouth Marine Terminal (PMT) has put Hampton Roads on a trajectory to become a supply chain hub for the country’s nascent offshore-wind energy industry. The Spanish wind turbine company is investing $200 million to build the […]
Report: More cuts needed to meet net zero by 2050
Clean energy policies enacted in Virginia put the state on the path to cutting carbon emissions, but the commonwealth likely won’t reach net zero emissions by 2050 without more work, according to a new report released Monday by U.Va.’s Environmental Resilience Institute. The report set carbon dioxide emissions reductions mandated under the 2020 Virginia Clean Energy […]
Thinking big
At Virginia’s largest publicly traded companies, the past year has been a constant exercise in challenging the status quo. Some major changes could be seen at the consumer level, as Dollar Tree Inc. raised its namesake base price point to $1.25, and Capital One Financial Corp. eliminated overdraft fees for its banking customers. And the […]
Tilting toward windmills
Siemens Gamesa Renewable Energy S.A.’s October 2021 announcement that it will build the nation’s first offshore-wind blade factory at Portsmouth Marine Terminal has put Hampton Roads on a trajectory to become a supply chain hub for the country’s nascent offshore wind energy industry. The Spanish wind turbine company is investing $200 million to build the […]
Dominion Energy to sell W.Va. utility for $690M
Dominion Energy Inc. announced Friday it had signed a definitive agreement to sell its West Virginia natural gas utility to Washington, D.C.-based financial services company Ullico Inc.’s infrastructure business for $690 million. The sale of Hope Gas Inc., also known as Dominion Energy West Virginia (DEWV), is expected to close later this year. “For nearly […]
Youngkin announces secretary of administration pick
Gov.-elect Glenn Youngkin has chosen former Federal Reserve System Chief Information Officer Margaret “Lyn” McDermid as the commonwealth’s secretary of administration. “Lyn will play a pivotal role in making Virginia’s government work for the people. Her vast experience will allow us to hit the ground running on Day One as we seek to revamp our […]
Dominion plans energy storage facility for Chesterfield
One of the state’s largest energy storage facilities is on track to open in Chesterfield County this year, as Dominion Energy Inc. works to achieve state-mandated clean energy goals. The Dry Bridge Energy Storage project will feature row after row of installations that resemble shipping containers, each housing batteries that collectively have the capacity to […]
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[...]
2021 CORPORATE COUNSEL Q&A
Carlos M. Brown Dominion Energy Inc., Richmond Title: Senior vice president, general counsel and chief compliance officer Education: Bachelor’s degree, University of Virginia; law degree, U.Va. School of Law Spouse: Dr. Tamara A. Charity-Brown Children: Carlos Jr., 20; Charity, 17; Chelsea, 13; Cari, 11 First job as a lawyer: Corporate finance and M&A associate at […]
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[...]
Major companies pledge $1.5M for broadband expansion
Dominion Energy Inc., Meta Platforms Inc. — formerly Facebook — Glen Allen-based Primis Bank and Petersburg-based The Cameron Foundation have collectively pledged more than $1.5 million to expand broadband access across Virginia, Gov. Ralph Northam announced Thursday. The funding will contribute to efforts to extend service to 233,000 Virginians who lack access to broadband. “These […[...]
