- Press Releases
November 5 (Renewables Now) - Dominion Energy Inc (NYSE:D) said it will later today make a filing with the Virginia State Corporation Commission seeking regulatory approval for its 2.6-GW Coastal Virginia Offshore Wind (CVOW) project, the US’ largest offshore wind project.
In another major step forward for the project, it was announced that a consortium consisting of Belgian-based DEME Group and Italian cable maker Prysmian SpA (BIT:PRY) has been awarded a USD-1.9-billion (EUR 1.6bn) balance of plant (BoP) contract.
The wind farm will be located about 27 miles (43 km) off the coast of Virginia Beach and is expected to be completed in 2026. The Bureau of Ocean Energy Management (BOEM) initiated the federal review of the project in July.
Dominion said today’s filing keeps the USD-9.8-billion project on schedule. Customer costs will be reduced by applicable federal tax credits and fuel costs savings, the company noted. Over the lifetime of the project, the net average cost to a typical residential customer is estimated at about USD 4 per month.
The newly announced BoP contract covers the transport and installation of 176 monopile transition piece foundations, three offshore substations, scour protection and the supply and installation of export and inter-array submarine cable systems. For DEME Offshore US LLC the contract is worth USD 1.1 billion, and for Prysmian around EUR 630 million.
The news comes after recently Siemens Gamesa Renewable Energy SA (BME:SGRE) launched a project for the construction of a new factory in Virginia, touted as the first offshore wind turbine blade production facility in the US. The wind turbine manufacturer has a long-term lease agreement for a site at the Portsmouth Marine Terminal, to be developed upon execution of a firm order in relation to the CVOW project.
(USD 1 = EUR 0.864)