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Dominion reports increases in diverse hiring over past 5 years
Dominion Energy Inc. released its first public diversity, equity and inclusion report on Friday, reporting increases in gender and racial diversity among employees hired between 2016 and 2020. With a goal of reaching 40% in diverse workforce representation — meaning hires of women and non-white people — by 2026, the Richmond[...]
BWXT to invest $65M in new Campbell County campus
Lynchburg-based nuclear components and fuel supplier BWX Technologies Inc. (BWXT) will build out and upfit a center for manufacturing and research and development adjacent to its Campbell County facility, creating 97 jobs, Gov. Ralph Northam announced Friday. The Fortune 1000 company plans to invest $65 million over the next thr[...]
SCC approves Dominion settlement, refunding $330M to customers
The State Corporation Commission approved a settlement with Dominion Energy Virginia in which the Richmond-based utility will refund customers $330 million and reduce rates annually by $50 million, the SCC announced Thursday. For a residential customer using 1,000 kilowatt hours per month, the rate reduction will result in a dec[...]
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 (CVO[...]
Fluence launches IPO that could raise $868M
Fluence Energy Inc., an Arlington-based energy storage and digital application company owned by Siemens and AES Corp., launched its initial public offering (IPO) of 31 million shares of Class A common stock Thursday at $28 per share. The company is trading on the Nasdaq Global Select Market under the ticker symbol “FLNC.” As[...]
Siemens Gamesa to build first U.S. offshore wind blade factory in Portsmouth
Siemens Gamesa Renewable Energy S.A., a Spanish wind turbine company, will invest $200 million to build the first U.S. offshore wind turbine blade manufacturing facility in Portsmouth, creating 310 jobs, Virginia Gov. Ralph Northam announced Monday from the Port of Virginia’s Portsmouth Marine Terminal. Siemens Gamesa is a par[...]
Henrico green-lights $2.3B GreenCity project
The Henrico County Board of Supervisors this week unanimously approved rezoning the 204-acre former Best Products headquarters campus into the $2.3 billion GreenCity project, a major mixed-used development that will feature a 17,000-seat arena. GreenCity, which was proposed in December 2020, is also expected to include two hotel[...]
Mars Inc. pledges to go net zero by 2050
Mars Inc. has pledged to achieve net-zero greenhouse gas emissions across its full value chain by 2050, the McLean-based global food manufacturer announced Tuesday. The pledge is in line with the Paris Agreement to reduce global warming. “The scale of global intervention must be bolder and faster,” Mars CEO Grant F. Reid said in a […]
Dominion Energy to sell Questar Pipeline to Southwest Gas for $1.9B
Richmond-based Dominion Energy Inc. has reached an agreement to sell its Questar Pipeline subsidiary to Las Vegas-based Southwest Gas Holdings Inc. for $1.975 billion, the Fortune 500 utility announced Tuesday. The all-cash deal includes the assumption of $430 million of debt. The transaction is expected to close in the fourth q[...]
‘Where the game is happening’
Touting one of North America’s largest ports, congestion-free shipping channels and the nation’s highest percentage of maritime workers, Hampton Roads is charting a course to become the East Coast supply chain hub for the offshore wind industry. Those attributes, say local leaders, set the region apart in the race to build t[...]
Fluence files plans for IPO
Fluence Energy Inc., an Arlington-based energy storage and digital application company owned by Siemens and AES Corp., announced this week it has filed paperwork with the U.S. Securities and Exchange Commission for an initial public offering of its Class A common stock. The number of shares and price range for the proposed offer[...]
AES promotes investment chair to CFO
Arlington-based Fortune 500 energy company The AES Corp. announced Tuesday it had promoted Stephen Coughlin to executive vice president and chief financial officer, effective Oct. 15. Coughlin most recently led AES’ corporate strategy and financial planning groups and served as chair of the company’s investment committee. Be[...]
