Dominion Energy has closed on a transaction to sell a 50 percent noncontrolling interest in the 2.6-gigawatt Coastal Virginia Offshore Wind (CVOW) commercial project to Stonepeak.
The CVOW, the largest offshore wind farm under construction in the United States, is on schedule to generate enough clean, renewable energy to power up to 660,000 homes once fully constructed in late 2026. The project will consist of 176 turbines and three offshore substations in a nearly 113,000-acre lease area off the coast of Virginia Beach.
After the transaction, Dominion Energy will retain full operational control of the construction and operations of the project, and Stonepeak will have customary minority rights.
“We are pleased to partner with Stonepeak on CVOW, which continues to proceed on-time and on-budget, consistent with our previously communicated timing and cost expectations,” said Robert Blue, chair, president and CEO of Dominion Energy. “Stonepeak is one of the
