ICYMI: New Dominion Energy Acquisition Set To Expand Offshore Wind Industry In The Commonwealth

In case you missed it, Dominion Energy announced a new agreement to acquire the Kitty Hawk North Wind lease to develop the Coastal Virginia Offshore Wind (CVOW)-South. This will be an expansion of the existing CVOW project that could support an additional 800 MW of offshore wind generation capacity once it is complete, while also supporting additional Virginia jobs and benefitting our economy.

Virginians for Offshore Wind applauded this effort in an official statement following the announcement, saying: “Building on the success of the original CVOW project, today’s news demonstrates continued momentum behind job-creating offshore wind.”

Several prominent Virginia news outlets have covered this pivotal announcement and highlighted the many exciting details of the CVOW-South project. See some highlights below:

• Virginia Mercury: Dominion To Purchase Second Offshore Wind Lease Area Off Coast Of North Carolina
  “In a news release, the utility stated it will purchase from Avangrid a 40,000-acre lease area that could produce 800 megawatts of electricity off the coast of North Carolina for a price of about $160 million, including $117 million in acquisition and $43 million in development reimbursement costs.”
• Virginia Business: Dominion Energy To Buy N.C. Offshore Wind Lease For $160M
  “If CVOW-South is fully constructed, the project will generate 800 megawatts of electricity, enough capacity to serve 200,000 homes and businesses, and would connect to Dominion Energy’s transmission grid, the utility said.”
• Daily Press: Dominion Energy Acquires Offshore Wind Lease Off Outer Banks
  “Dominion reported that, once completed, the site would have the capacity to serve 200,000 homes and businesses.”
• WAVY-TV: Dominion Acquiring 40K-Acre Lease For Offshore Wind Project Off Corolla Coast
  “Dominion says, pending approvals from the Bureau of Ocean Energy Management and the City of Virginia Beach, the deal with Avangrid is expected to close in the fourth quarter of 2024.”
• Richmond Times-Dispatch: Dominion To Expand Offshore Wind Efforts Off Outer Banks
  “[Dominion Energy CEO Robert M. Blue] said acquiring the lease gives Dominion a potential option to meet that demand and requirements of the Virginia Clean Economy Act that all the electricity it delivers be from renewable resources by 2045.”

As Virginia continues to expand its offshore wind energy capacity, we look forward to seeing the success of this energy source for our homes and businesses, as well as the prosperity that the offshore wind industry will bring to the Commonwealth. The future of clean energy lies in offshore wind, and Virginia plans to remain in the driver’s seat.

Read Virginians For Offshore Wind’s official statement HERE.

Read the full announcement from Dominion Energy HERE.

Learn more about offshore wind in Virginia HERE.

About Virginians For Offshore Wind: Virginians for Offshore Wind is a group of citizens and local organizations dedicated to promoting offshore wind in Virginia, including the clean energy transformation and economic opportunities that come with it. To learn more, visitwww.virginiaosw.org.