Dominion Announces Sale Of Half Interest In Wind Project

Dominion Energy Virginia has announced a significant deal regarding its Coastal Virginia Offshore Wind project. The utility company is selling half of its interest in the project to an investment firm known as Stonepeak. The Coastal Virginia Offshore Wind project is a 2.6 gigawatt wind farm located off the coast of Virginia Beach. It aims to serve the power needs of approximately 660,000 homes. Dominion Energy will continue to oversee the project’s day-to-day operations and construction. The deal, which is estimated to cost $9.8 billion, will not impact ratepayers according to Dominion. The cost, customer bills, and consumer protections approved by Virginia’s State Corporation Commission remain unchanged. The deal awaits approval from the SCC, which is expected to make a decision by the end of 2024.