The largest offshore wind project under construction in the U.S. has nine turbines in the water and is on track to begin operating next year.
The update by Dominion Energy on its sprawling project called Coastal Virginia Offshore Wind came as the utility reported strong growth in power demand from data centers. Company executives also expressed enthusiasm in Virginia’s new energy storage targets and said the utility had submitted a bid to extend a long-term power contract for its nuclear power plant in Connecticut.
But the offshore wind project headlined Dominion’s financial update with analysts Friday. The Trump administration temporarily halted construction of the 2,600-megawatt project late last year. Construction resumed in January after Dominion successfully sued the government. The project’s first turbine began spinning in March.
Company executives said the utility is installing two turbines a day, putting it on track to complete construction on all 176 turbines by June 2027. Dominion lowered the project’s estimated price tag from $11.5 billion to $11.4 billion as a result of the Supreme Court striking down President Donald Trump’s tariffs. The company estimates the project will save Virginia ratepayers $5 billion in fuel costs during its first decade of operations.
