First Monopile Foundations for Dominion Energy's Coastal Virginia Offshore Wind Commercial Project Arrive at Portsmouth Marine Terminal

Rhea-AI Summary

Dominion Energy's Coastal Virginia Offshore Wind (CVOW) project remains on budget and on schedule. The first eight monopile foundations have been safely offloaded at Portsmouth Marine Terminal, marking another step towards construction. The project is expected to generate enough electricity to power 660,000 homes and save customers $3 billion in fuel costs during the first 10 years of operation.

Positive

• CVOW project remains on budget and on schedule
• Expected to generate enough electricity to power 660,000 homes
• Projected fuel savings of $3 billion for customers during the first 10 years of operation

Negative

• None.

• Coastal Virginia Offshore Wind (CVOW) remains on budget and on schedule
• Dominion Energy expects to begin offshore construction in early 2024 and to conclude in late 2026
• These eight monopile foundations are the first of 176 to be delivered and staged in Portsmouth

RICHMOND, Va., Oct. 27, 2023 /PRNewswire/ -- Dominion Energy's Coastal Virginia Offshore Wind (CVOW) commercial project took one more step to starting construction when the first eight monopile foundations were safely offloaded at Portsmouth Marine Terminal, where they will be staged until installation of the 2.6-gigawatt project, enough electricity to power 660,000 homes, begins in the spring of 2024. The foundations, which are a single vertical, steel cylinder, are being manufactured by global leader EEW SPC and will be installed into the sea floor to support the wind turbine generators.

"The delivery of the first foundations is further evidence that our Coastal Virginia Offshore Wind project continues to move forward on time and on budget to provide reliable, affordable and increasingly clean energy to our customers," said Bob Blue, Dominion Energy's chair, president and chief executive officer. "This regulated offshore wind project positions us, and the Commonwealth of Virginia, as leaders in the development of offshore wind and provides many benefits for our customers and local economies."

CVOW, the largest offshore wind project under development in the United States, is expected to generate fuel savings of $3 billion for customers during the project's first 10 years of operation.

The project continues to advance through the federal permitting process, receiving the Final Environmental Impact Statement from the Bureau of Ocean Energy Management (BOEM) last month. BOEM is expected to issue its Record of Decision on the project in the coming days.

Offshore wind's economic development and jobs benefits are transformative for Hampton Roads and the Commonwealth. More than 750 Virginia-based workers – nearly 530 in the Hampton Roads region – have been engaged on the CVOW project or with other businesses supporting CVOW, including redevelopment work at the Portsmouth Marine Terminal, construction of the offshore wind Monitoring and Coordination Center, maritime provisioning, ship repairs, divers, heavy lift and rigging, cyber security, food service and hospitality. More than 1,000 local jobs will be needed to support ongoing operations and maintenance of this facility after the project is commercial.

The offloading of the foundations was supported by union workers from the International Longshoremen's Association, the largest union of maritime workers in North America.

B-roll footage and photos of the monopile unloading are available for download at https://news.dominionenergy.com/cvowfoundations. Photo and video of the celebration event will be available for download by 4:00 p.m.

View the Spanish version of this press release.

About Dominion Energy
About 7 million customers in 15 states energize their homes and businesses with electricity or natural gas from Dominion Energy (NYSE: D), headquartered in Richmond, Va. The company is committed to providing reliable, affordable, and increasingly clean energy every day and to achieving Net Zero emissions by 2050. Please visit DominionEnergy.com to learn more.

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SOURCE Dominion Energy

FAQ

When is Dominion Energy expecting to begin offshore construction for the CVOW project?

Dominion Energy expects to begin offshore construction in early 2024.

How many monopile foundations will be installed for the CVOW project?

A total of 176 monopile foundations will be installed for the CVOW project.

How much electricity will the CVOW project generate?

The CVOW project is expected to generate enough electricity to power 660,000 homes.

How much money will customers save during the first 10 years of operation?

Customers are projected to save $3 billion in fuel costs during the first 10 years of operation.