Dominion Energy announced Friday that the state of Virginia approved development of its 2.6-gigawatt Coastal Virginia Offshore Wind (CVOW) project. Dominion received approval from the Virginia State Corporation Commission (SCC) for the project to be built 27 miles off the coast of Virginia Beach.
CVOW said its schedule calls for construction to be complete in 2026, when it plans to generate enough clean energy to power up to 660,000 homes. The final order from the SCC affirms that CVOW meets all Virginia statutory requirements for rider cost recovery and the issuance of a "Certificate of Public Convenience and Necessity" for the onshore infrastructure. The order also includes a performance requirement, but the details were not disclosed.
"Our customers expect reliable, affordable energy, and offshore wind is key for delivering on that mission," Robert M. Blue, Dominion Energy chair, president and CEO, said in a statement. "We are very pleased that the commission has approved this important project that will benefit our customers. We are reviewing the specifics of the order, particularly the performance requirement."
CVOW represents a clean-energy investment of approximately $9.8 billion, and as the largest project of its kind in the U.S., Dominion said.
Dominion estimates that the project is expected to save Virginia customers more than $3 billion during its first 10 years in operation.
As part of its order, the SCC granted approval for approximately 17 miles of new transmission lines and other onshore infrastructure.