U.S. power firm Dominion Energy mentioned on Friday that its roughly $10 billion Coastal Virginia Offshore Wind mission was on finances and on monitor for completion in late 2026.
The firm mentioned in its second quarter earnings presentation that it anticipated to get a Record of Decision from the U.S. Bureau of Ocean Management (BOEM) within the second half of 2023. The Record of Decision is a step within the course of earlier than development can begin.
The roughly 2,600-megawatt (MW) mission consists of 176 generators, every designed to generate 14.7 MW, to be positioned about 27 miles (43.5 kilometers) off the coast of Virginia Beach.
One megawatt can energy round 1,000 U.S. houses on a typical day.
Offshore wind is seen as a key power supply within the climate-focused transition away from fossil fuels, prompting U.S. President Joe Biden’s administration to set a objective of deploying 30,000 MW of offshore wind by 2030.
There are at the moment proposals to construct over 6,200 MW of offshore wind off Massachusetts, Maryland, New Jersey, New York, Ohio, Rhode Island and Virginia over the following six years, in line with federal power knowledge.
Although power corporations have proposed constructing offshore wind initiatives within the United States for greater than 20 years, there are solely two initiatives working – 29-MW off Rhode Island and 12-MW off Virginia.
That’s as a result of offshore wind initiatives are costly and take a very long time to develop and construct within the United States. Dominion signed a lease settlement for its mission with the BOEM in 2013, which accepted the corporate’s website evaluation plan in 2017.
Dominion constructed the primary part of the mission – a two-turbine, 12-MW pilot in 2020.
The Virginia State Corporate Commission accepted the larger, subsequent part of the mission in 2022.
Dominion expects to construct the second part in 2024-2026.
(Reuters – Reporting by Scott DiSavino; Editing by Aurora Ellis)
