ICYMI: Settlement Agreement Reached to Move Coastal Virginia Offshore Wind Project Forward
In case you missed it, the Office of the Attorney General, Dominion Energy Virginia, and other third parties filed a settlement agreement Friday, October 28 to advance the Coastal Virginia Offshore Wind (CVOW) project. The petition now heads to the Virginia State Corporation Commission for approval.
According to a Dominion Energy press release, “The settlement agreement substitutes the previously ordered performance guarantee with a cost-sharing approach for unforeseen costs that exceed the project budget, as well as enhanced Commission review of operating performance.”
The agreement is a significant step forward in growing offshore wind in the Commonwealth and meeting our clean energy and economic goals.
In a statement on the filing, Virginia Attorney General Jason Miyares said, “This landmark agreement means that Virginia will be a national leader in offshore renewable energy for years to come and most importantly in a fiscally responsible way.”
Learn more about offshore wind in Virginia HERE and more on the filing in the Associated Press 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, visit www.virginiaosw.org.