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W&M receives $50M gift from alum for Batten School, VIMS

William & Mary alumnus Dr. R. Todd Stravitz has donated $50 million to the university to create a full-tuition scholarship fund for its new Batten School of Coastal & and the Virginia Institute for Marine Science, announced Thursday.

This is W&M’s largest ever scholarship fund , it said in the announcement, and the first scholarships will be awarded for the fall 2025 semester.

Stravitz and the Brunckhorst Foundations, his family’s philanthropic organization, made the donation months after Hampton Roads philanthropist Jane Batten’s $100 million gift to establish the Batten School and expand VIMS, announced in July 2024. Batten’s donation also creates the state’s first bachelor’s degree program in coastal and marine sciences, recently approved by the State Council of Higher Education for Virginia (SCHEV).

“When I was a student, a degree like this didn’t exist, and I want to create the pathway for today’s students to experience the best of so they are prepared for the greatest challenges of their generation,” said Stravitz, a 1982 W&M graduate. “Our best hope for solving the environmental crises we face is educating young people to care for and improve our planet. Programs like this are critical to our future, and I’m honored to support this vital mission.”

A former liver surgeon and retired medical director of ‘s Hume-Lee Transplant Center, Stravitz made a $104 million donation to support liver research at VCU in 2022 and established the Stravitz-Sanyal Institute for Liver Disease and Metabolic Health.

William & Mary alumnus and philanthropist Dr. R. Todd Stravitz at home with his dog, Raylan. Photo by Alfred Herczeg/William & Mary

Stravitz, a resident, is an heir to the Provisions Co. fortune, which his grandfather, Frank Brunckhorst, founded in 1905. The Brunckhorst Foundations, started by Stravitz’s late mother, Barbara Brunckhorst, make donations toward medical research and environmental sustainability.

The first cohort of undergraduate students will start studies this fall with an “immersion semester” at the Batten School and VIMS campus at Gloucester Point.

“We are deeply grateful to Dr. Stravitz and the Brunckhorst Foundations,” W&M President Katherine A. Rowe said in a statement. “This removes financial barriers, allowing the brightest minds to access the learning and tools needed to address our planet’s urgent problems. These future trailblazers will craft solutions that safeguard ecosystems, economies, and the communities that depend on them around the globe.”

MicroStrategy unveils new name and logo, emphasizing Bitcoin

The tech company formerly known as has a new moniker: Strategy.

In addition to announcing a new name, the behemoth chaired by unveiled Wednesday a new logo and a new brand color.

“The new logo includes a stylized “B,” signifying the company’s Bitcoin strategy, and its unique position as a Bitcoin Treasury Company,” a company announcement states. “The brand’s primary color is now orange, representing , intelligence and Bitcoin.”

In the announcement, Saylor points to a quote by French writer Antoine de Saint-Exupéry: “Perfection is achieved, not when there is nothing more to add, but when there is nothing left to take away.”

“Strategy is one of the most powerful and positive words in the human language,” Saylor said. “It also represents a simplification of our company name to its most important, strategic core … After 35 years, our new brand perfectly represents our pursuit of perfection.”

At 4:40 p.m. Wednesday, bitcoins were trading for $97,528.45, according to Coinbase, the nation’s largest cryptocurrency exchange. As of Feb. 2, 2025, Strategy and its subsidiaries held approximately 471,107 bitcoins, according to a filing. The company’s bitcoins were worth about $45.9 billion at 4:50 p.m.

The company’s bitcoins were purchased for about $30.4 billion, and at an average purchase price of $64,511 per bitcoin, including fees and expenses.

Now the world’s largest corporate holder of the cryptocurrency, MicroStrategy announced its first bitcoin purchase in August 2020, making it one of the first public companies to convert its cash treasury reserves into cryptocurrency as a store of value.

Virginia Business Associate Editor Katherine Schulte contributed to this article. 

$1.6B Atlantic Union purchase of Sandy Spring Bank clears main hurdles

The parent companies of and have cleared the last major hurdles to the bank’s $1.6 billion all-stock purchase of Sandy Spring, headquartered in Maryland.

The shareholders of and stockholders of Sandy Spring Bancorp approved the , first announced in October 2024, in their separate special meetings Wednesday. The companies have also received all required bank regulatory approvals, including approval from the Federal Reserve Bank of Richmond.

The merger is expected to close April 1. Under the terms of the merger agreement, each outstanding share of Sandy Spring common stock will be converted into the right to receive 0.9 shares of Atlantic Union common stock.

“The merger will create a unique franchise by combining the No. 1 regional depository market share bank in Virginia with the No. 1 regional depository market share bank in Maryland,” Atlantic Union President and CEO John C. Asbury said in a statement. “We believe the merger will benefit our customers and markets with an expanded and even more convenient branch network, enhanced product offerings, a robust community benefit plan and access to more capital.”

Atlantic Union Bank had 129 branches across Virginia and parts of Maryland and North Carolina as of Dec. 31, 2024. The bank reported $24.6 billion in total assets and $20.4 billion in deposits.

Sandy Spring Bank has more than 50 locations across Virginia, Maryland and Washington, D.C. The regional bank had $14.1 billion in total assets and $11.7 billion in total deposits as of Dec. 31, 2024.

Sandy Spring also has two wealth management subsidiaries, Rembert Pendleton Jackson and West Financial Services, that will be part of the acquisition and will approximately double Atlantic Union’s wealth management business, increasing its assets under management by more than $6.5 billion.

“We are very excited to reach this important milestone as we work to bring together two great companies. It has been inspiring to see colleagues from both banks design, collaborate and transform together to make this combination a success,” Sandy Spring Chair, President and CEO Daniel J. Schrider said in a statement.

Schrider and two other Sandy Spring board members will join Atlantic Union’s board upon closing of the transaction.

U.Va. Law dean: ‘I see myself as a steward of this place’

Editor’s note: This story by Jason Boleman originally appeared in Virginia Lawyers Weekly.

Few in the legal profession can say they attended depositions and kindergarten at the same time.

But that was ‘s reality growing up.

The daughter of a “small town mineral and property lawyer” in Floyd County, Kentucky, Kendrick recalled attending depositions when her dad was watching her.

“I got to see some of that work close up without really thinking about it as a possibility for me,” Kendrick said.

Her journey has taken her from day care depositions in Kentucky to two decades at the School of Law, beginning as a law student fresh from a doctoral program at the University of Oxford and culminating in her July 1, 2024, promotion to dean.

With her first semester as dean in the books, Kendrick reflected on a place she called “a true home” for her and her family.

“I see myself as a steward of this place,” she said. “We’re here for a short time in the history of this institution, it’s a great place, and above all, I want to continue what’s great about it, the combination of excellent legal education and legal and a true sense of community.”

Early life

Despite being the daughter of an attorney, Kendrick did not initially see the law as her career path.

“I wanted to be a teacher, and my sister wanted to be a bus driver, and we wanted to work at the same school. That was our plan,” she said. “The nice thing about that is I did get to be a teacher, just in a way that I never would have imagined.”

The oldest of three sisters, Kendrick and her siblings learned basic legal research and summarized depositions with their father while growing up in the unincorporated community of East Point.

“It was home to us,” Kendrick said. “In hindsight, I think there were so many wonderful things about that, and I feel so lucky to have grown up in a place where we were surrounded by extended family.”

Kendrick went on to attend the University of North Carolina at Chapel Hill, studying classics and English. After graduating from UNC, she continued her education in English at Oxford as a Rhodes Scholar.

Before attending Oxford, Kendrick had been overseas once on a weeklong trip to England.

“I came in with very big eyes and was completely awed by the place,” Kendrick said. “It was a place where you felt, anywhere you went, everywhere you looked, there were people thinking deeply, thinking fast about all sorts of things.”

At Oxford, Kendrick studied the works of William Shakespeare and John Milton; some of their books had been in Oxford’s library since they were printed centuries before, she said.

“It just felt like a to get to study English literature there and to get to spend the years there that I did,” Kendrick said.

She earned a Master of Philosophy and of Philosophy at Oxford in English literature. While there, Kendrick met her husband, Micah Schwartzman, who was a fellow Rhodes Scholar.

Legal career

While working on her master’s and doctorate, the idea to pursue the law began percolating for Kendrick.

“I never really thought about it as a career for myself until I was in graduate school and thought, ‘That’s something that I could do, and that I might like to do,’” she said.

As an English scholar, Kendrick said, she spent much time on criticism, making arguments and interpreting text — skills she said have applied to the law.

“Eventually, my middle sister and I ended up taking the LSAT together in Washington, D.C., and both of us ended up going to law school, but it was a long journey from watching and learning to thinking this is something I could do, too,” Kendrick said.

Upon returning from Oxford, Schwartzman and Kendrick enrolled at , beginning her two-decade association with the university.

Kendrick expected to go into government service or back to a firm she had worked at during the summer after her clerkships, but her time clerking for Judge J. Harvie Wilkinson on the 4th U.S. Circuit Court of Appeals helped keep her in the community.

“I got to stay in Charlottesville for my clerkship,” Kendrick said. “I’m so lucky that the judge hired me; it was a great experience.”

While she was clerking for Wilkinson, U.Va. reached out to Kendrick and her husband to offer them faculty positions. Kendrick went on to clerk for U.S. Supreme Court Justice David Souter before joining the U.Va. faculty in 2008.

“We’ve been here ever since,” Kendrick said. “It’s a true home to us, for all the reasons that we came here as students.”

Law school service

After several years as a professor and four years as vice dean to Dean Risa Goluboff, Kendrick was tapped to succeed her.

In a December 2023 release from the law school after the announcement of Kendrick’s elevation, Goluboff called Kendrick “a true partner in every success the law school achieved and every challenge we overcame during her time as vice dean.”

“I cannot imagine a better-prepared, more highly qualified or more exciting successor,” Goluboff said.

In a statement, U.Va. President Jim Ryan highlighted Kendrick’s accomplishments as a law professor.

“She has a tremendous record of teaching and scholarship in torts and the First Amendment, and her university service has been invaluable,” Ryan said.

Kendrick reflected on her first semester as dean of her alma mater.

“It’s been a delight, it truly has,” she said of the experience, one that has left her “nervous and excited at the same time.”

“As with many positions, it’s the things you can’t foresee that you think about with the most kind of uncertain anticipation,” Kendrick said.

Successes she touted include having a greater than 95% “good address rate” for alumni and a high rate of giving compared to other law schools in the country.

“That same positivity that I have felt from alums, I have been lucky enough to feel from every quarter in this first year from our students, faculty, staff and others around the university,” Kendrick said.

Kendrick highlighted the people she gets to meet and interact with as the most rewarding part of her role as dean.

“I’ve done a lot of work on the First Amendment and talking with students about freedom of speech,” Kendrick stated. “And something that I have said over and over again is in an academic setting and legal setting, the goal is to go hard on ideas and go easy on people.”

Goodyear to cut 850 jobs in Danville

About 850 jobs will be cut by the end of the year at ‘s tire manufacturing facility in , according to a document the tiremaker posted Tuesday.

The Goodyear Tire & Rubber Co., which is headquartered in Ohio, reached an agreement on Jan. 30 with the union “to reduce the company’s production capacity and production cost per tire in Americas,” states a filing with the .

The job reductions will include associates and contracted positions. The Danville facility will continue to produce aviation tires and conduct mixing operations, according to the filing, but medium truck tire production will end at the Danville plant, which opened in 1966.

United Steelworkers Local 831 represents about 1,850 Goodyear employees in Danville, according to its website. Requests for comment from the union and Goodyear were not immediately returned.

Goodyear’s agreement with USW to reduce production capacity and cost per tire will cost the company between $130 million and $140 million, the SEC document says, with $80 million to $90 million expected to be cash charges for layoff-related costs. The are expected to improve the Americas segment of the Ohio-based business’s operating income by approximately $15 million in 2025 and $65 million a year afterwards, the filing says.

Ken Larking, Danville’s city manager, said in a statement that the city’s staff will work with state and regional partners to provide services to displaced employees.

“Danville has proven time and again that we are a resilient community,” Larking stated. “While this news is difficult, we remain committed to strengthening our local economy, attracting new investment and creating opportunities for our workforce.”

In November 2023, Goodyear unveiled its Goodyear Forward plan, an initiative “to optimize its portfolio, deliver significant margin expansion and reduce leverage to drive sustainable and substantial shareholder value creation.” The company forecasted that plan could result in top line and cost reduction actions totaling $1.3 billion by the end of 2025.

Goodyear announced plans to sell its Dunlop brand to Japan’s Sumitomo Rubber Industries for about $701 million last month.

The company has 55 manufacturing facilities in 22 countries and employs 71,000 full-time and temporary workers, according to its 2023 annual report.

CHKD is latest Va. system to halt gender-affirming treatment for minors

Days after UVA Health and VCU Health suspended all gender-affirming medical treatments for people under age 19, -based Children’s of The King’s Daughters has followed suit, a spokesperson confirmed Tuesday.

In a statement, CHKD noted that it has never offered surgical treatments to patients.

“With the utmost concern for our patients and our caring team of pediatric professionals, CHKD has determined that we must suspend medical treatments associated with gender-affirming care to be in compliance with the White House executive order of Jan. 28. This means that we must suspend the prescribing of hormone therapy and puberty blockers specifically for gender-affirming care. Our determination is consistent with actions taken recently by our colleagues at UVA, and other hospitals across the nation.

“CHKD will remain vigilant in monitoring guidance related to this executive order and will be prepared to adapt rapidly if the situation changes,” the statement said.

To respond to patients whose treatment has been suspended, CHKD said in its statement, “our team is expediting access to appointments with physicians and with our mental team to offer guidance, consultation and mental health services. We are wholeheartedly committed to the dignity of our patients and to the sacred trust they place in CHKD and our team of devoted physicians and clinicians.”

Unlike the two university-affiliated systems, CHKD did not receive a letter from Virginia Attorney General Jason Miyares, who last week sent a memo to UVA Health and VCU Health, informing the health systems that they must stop providing treatments to minors seeking puberty blockers, hormone treatments or surgical procedures.

In the memo from Miyares titled “Protecting Children from Chemical and Surgical Mutilation,” the Republican attorney general referred to ‘s executive order issued Jan. 28 by the same name.

CHKD’s announcement comes as many health care systems — both public and private — consider halting gender-affirming treatments for minors, even though under Virginia law, minor patients must have their parents’ or guardians’ permission to seek such treatments.

, a Democratic delegate representing Henrico County who serves on VCU Health’s board of directors, said Tuesday in an interview that health systems rely heavily on federal funding, which they could lose if they don’t comply with the White House’s executive order.

Miyares said in his memo that “any hospital or other institution … is at risk of losing” federal research or education grants, and “may involve Medicare or Medicaid conditions of participation/coverage.”

CHKD’s website notes that Medicaid covers approximately 55% of its inpatient days, “the highest percentage by far of any acute care hospital in Virginia.” Also, CHKD “has a large annual shortfall between the costs we incur caring for Medicaid patients and the reimbursements we receive from Medicaid,” including $33 million in fiscal 2022.

Willett, who blasted Trump’s executive order as “inhumane,” said VCU Health’s leaders’ “hands were tied. It was a devil’s choice. You’re damned if you do, you’re damned if you don’t.”

If VCU lost federal funding, “hundreds of thousands of patients” would be impacted, he said, “as it is for UVA Health.”

Private health care systems also will likely be impacted, Willett added.

On Tuesday, Roanoke-based Carilion Clinic said its status had not changed from last week, when it released this statement: “We are reviewing the latest federal directive to determine potential next steps and deliver care in compliance with regulations. We will share more with our patients and their families as this evolves.”

Bon Secours and Inova Health did not immediately respond to requests for comment, and Sentara Health said last week it “does not have a gender reassignment program for minors.”

On Tuesday, a group of transgender youth, young adults and family members joined the , GLMA and PFLAG in a federal lawsuit challenging Trump’s executive order ending access to gender-affirming medical care for people under age 19. One 17-year-old plaintiff, Willow, lives in Richmond; her last name was not included in the lawsuit or news release to protect her privacy.

In a statement, Willow’s mother, Kristen Chapman, said they moved to Virginia in 2023 after the in Tennessee, where they lived before, passed a law banning gender-affirming care for minors.

“We moved to Virginia in the summer of 2023, but struggled to find a provider that would accept our Medicaid insurance. As paying for her care out-of-pocket became prohibitively expensive, I tried for months to get an appointment at VCU, and I finally got an appointment for Jan. 29, 2025,” Chapman said. “The day before our appointment, signed the executive order at issue in this case. The next day, just a few hours before our appointment, VCU told us they would not be able to provide Willow with care. I thought Virginia would be a safe place for me and my daughter. Instead, I am heartbroken, tired and scared.”

According to the legal complaint, VCU Health informed Willow that her appointment was canceled.

The lawsuit says that VCU and its Children’s Hospital of Richmond received nearly $7.3 million in federal grants from the Health Resources and Services Administration (HRSA) and nearly $107 million in grants from the National Institutes of Health (NIH) in fiscal 2023, and UVA Health received more than $200 million in grants from NIH in fiscal 2023.

Virginia Beach hires economic development director

Virginia Beach has hired a new director of .

City Manager Patrick Duhaney appointed Christian Green to the post, and he will join the city Feb. 24, according to a Tuesday announcement.

Green follows Charles E. “Chuck” Rigney, who resigned from the job in July 2024. In an August 2024 article in The Virginian-Pilot, Rigney said he requested an audited review following questions about travel expenses.

Rigney held the position officially for six months after serving as interim director for about eight months following the departure of Taylor Adams, who left in 2023 to take an economic development job in Nevada.

Amanda Jarratt, a deputy city manager for , served as interim economic development director during the search for a new director.

Since September 2023, Green has served as director of economic development for Stonecrest, Georgia, according to his LinkedIn page. Stonecrest is a city in DeKalb County that is about 15 miles from Atlanta. In that role, Green led efforts to update the 2038 comprehensive plan and helped establish the Stonecrest Economic Development Plan, according to Virginia Beach’s announcement.

Previously, Green worked as economic development officer for Glendale, Arizona, and as an economic development manager for Scottsdale, Arizona.

“Throughout his career, Christian has worked with public, private and development communities to successfully facilitate projects with complex timelines and delicate situations,” Duhaney said in the announcement. “His vast and varied experience will be an asset to economic development’s efforts to identify new revenue streams that meet the ever-growing needs of the city.”

Green has a degree in business administration from Washburn University in Kansas.

RTX board chair to step down in April

Gregory J. Hayes will step down as executive chairman of -based in April, when he will be replaced by Christopher T. Calio, president and CEO of the Fortune Global 500 and defense contractor.

Hayes notified RTX of his plans to step down as executive chairman and from the board “prior to the company’s 2025 annual meeting,” according to a Monday news release. That meeting will be held in the spring, according to a company spokesperson who declined to provide a date when Hayes notified the board.

Hayes was a key player in the formation of RTX, which resulted from a 2020 between the aerospace business of and Co. At the time, Hayes led United Technologies as CEO, a role he’d held since 2014.

“Greg has led RTX since the company’s inception and through significant aerospace and defense industry change,” Fred Reynolds, RTX lead director, stated in the announcement. “Greg’s extraordinary visionary leadership over the past 35 years has created tremendous value for employees, customers, partners and investors, and his steady guidance has steered a successful leadership transition that positions the company for success well into the future.”

Calio joined RTX in 2022 as chief operating officer and became a member of the company’s board the following year. On May 2, 2024, Calio was elected president and CEO of the company and Hayes became the board’s executive chairman.

Previously, Calio was president of , a RTX subsidiary that designs and manufactures aircraft engines. He joined United Technologies in 2005 as an assistant counsel and went on to serve in multiple leadership roles.

In April, Hayes will begin serving as a special adviser to Calio, a role he will hold through Jan. 2, 2026.

“As anticipated, as CEO, Chris Calio has continued to drive RTX growth by focusing on operational execution and innovation at the pace of customer needs,” Hayes said in a statement. “I am confident that, as chairman and CEO, he will continue to execute on the strategic priorities that deliver long-term growth for all stakeholders. ”

Last week, RTX reported adjusted sales in 2024 of $80.8 billion, a 9% increase over the previous year. It has more than 185,000 employees. The company moved its headquarters to Arlington in 2022. Corp. rebranded as RTX in 2023.

“We have strong momentum heading into 2025 with a $218 billion backlog and unprecedented demand for our products and solutions,” Calio stated in a Jan. 28 announcement.

Fairfax casino legislation passes in Va. Senate

A to allow residents to hold a casino referendum passed in a vote Tuesday. The measure will next go before the Virginia for consideration.

Senate Bill 982, introduced by Sen. Scott Surovell, D-Fairfax, passed in a 24-16 vote in the Senate, along bipartisan lines, with some Democrats and Republicans in opposition and others voting yes. The bill previously moved through the Senate General Laws and and Senate Finance committees.

A similar bill was introduced in 2024 by Sen. Dave Marsden, D-Fairfax, but was killed in the Senate’s finance committee last year.

Under current state law, only five cities in Virginia are allowed to host one casino each: Bristol, , , Petersburg and Portsmouth. Voters in each city have passed casino referendums on their ballots, and three are now open in Bristol, Danville and Portsmouth, while Norfolk’s resort is under construction.

“Virginia residents are already sending billions of dollars per decade to Maryland in the Northern Virginia region by patronizing the MGM National Harbor Casino just over the Maryland state line,” Surovell said in a statement last week after the bill’s passage through the finance committee. “It is time to bring that money back to benefit our state and Fairfax County while building a world-class performing arts venue, a convention center, and creating thousands of union jobs so everyone who works in the county can live in the county. This bill will allow the voters of Fairfax County to decide whether or not the project should move forward.”

However, there is considerable local opposition to a casino, which is proposed to be built in . The grassroots No Fairfax County Casino Coalition, representing multiple homeowners associations and town councils, went to Richmond during the session to lobby lawmakers to vote against the bill, and a group of former federal defense and intelligence officers known as National Security Leaders for Fairfax sent a letter expressing concerns to Fairfax County and state officials in January, The Washington Post reported.

“This Tysons casino legislation continues to be rammed down the throats of Fairfax County and Tysons-area residents, and we don’t want it,” Tysons Stakeholders Alliance President Paula Martino said in a statement Tuesday. “Not one elected official representing Tysons has asked for this casino. County officials did not ask for this casino. Not a single state legislator representing Tysons has asked for this casino.”   

Voting yes Tuesday were Democratic senators Lashrecse Aird, Lamont Bagby, Jennifer Carroll Foy, Ghazala Hashmi, Mamie Locke, Louise Lucas, Marsden, Jeremy McPike, Stella Pekarsky, Russet Perry, Aaron Rouse, Surovell and Angelia Williams Graves.

The following Republicans voted yes: Christie New Craig, Bill DeSteph, J.D. “Danny” Diggs, Tara Durant, Timmy French, Emily Jordan, Todd Pillion, Bryce Reeves, William Stanley Jr., Richard Stuart and Glen Sturtevant Jr.

Democrats voting no were: Jennifer Boysko, Creigh Deeds, Adam Ebbin, Barbara Favola, Danica Roem, Saddam Azlan Salim, Kannan Srinivasan and Schuyler T. VanValkenburg.

Republicans voting no were: Luther Cifers III, Travis Hackworth, Christopher Head, Ryan McDougle, Tammy Brankley Mulchi, Mark Obenshain, Mark Peake and David Suetterlein.

Carroll Foy, Surovell, Marsden, Pekarsky, Salim, Boysko and Ebbin represent parts of Fairfax County.

Cost of Va. Beach wind farm increases by close to $1B

Eggs aren’t the only thing getting more expensive. The estimated cost to build Dominion ‘s () project has increased from $9.8 billion to $10.7 billion, a 9% jump.

Over the life of the project, the expected average impact to the monthly of a residential customer who uses 1,000 kilowatt-hours a month is 43 cents, the -based Fortune 500 utility stated in a project update distributed Monday afternoon.

The 2.6-gigawatt project, which is expected to provide enough energy to power 660,000 homes, is now 50% finished and remains on track for expected completion in 2026. It’s located 27 miles off the coast of .

Dominion attributed the cost estimate increase to a revised estimate of network upgrade costs assigned by PJM Interconnection, the company that operates the electric grid for a region that runs from New Jersey to North Carolina, and from Illinois to Washington D.C., and on higher onshore electrical interconnection costs.

Dominion noted this is the only increase in the project’s budget since it was submitted to the Virginia State Corporation Commission in November 2021.

Also in Monday’s update, Dominion announced that CVOW’s first 16 transition pieces, which serve as the junction between the foundation and tower for each of the 176 , have been installed.

The first of three 4,300-ton offshore substations was delivered to the Portsmouth Marine Terminal in Virginia Beach at the end of January.

Wind turbine tower and blade fabrication is underway and nacelle fabrication — making containers for turbine working parts — will begin later this quarter, according to Dominion.

Spanish-German wind engineering company , the project’s wind turbine supplier, is manufacturing the same turbine model for CVOW that operates at the Moray West offshore wind project, which is located off the coast of Scotland.

Charybdis, the first U.S.-built wind turbine installation vessel, is now 96% completed and has launched sea trials in Texas.

In October 2024, Dominion completed its $2.6 billion sale of a 50% noncontrolling stake in CVOW to investor .

At the beginning of his second term, issued an executive order that temporarily ceases all federal wind leases under consideration and called for an “immediate review” of the policies before resuming. On Jan. 20, 2024, Dominion issued a statement that it is “confident CVOW will be completed on time, and that Virginia’s clean energy transition will continue with bipartisan support for many years to come.”

Dominion provides regulated electricity service to 3.6 million homes and businesses in Virginia, North Carolina, and South Carolina, as well as regulated natural gas service to 500,000 customers in South Carolina.