Dominion Energy has secured a lease of a 176,505-acre site off the coast of Virginia Beach from the Bureau of Ocean Energy Management to potentially develop an offshore wind facility. The cost of the lease was $17.7 million, which equates to about $100 an acre.
According to a press release, the option to deploy additional offshore wind generation would serve “unprecedented electric demand growth” that would be supportive of the goals of the Virginia Clean Economy Act. It could provide 2.1 to 4 gigawatts of offshore wind energy generation.
However, the company’s focus is still on completing its current 2.6-gigawatt Coastal Virginia Offshore Wind Project “on time and on budget.” The project is due for completion by the end of 2026. To date, 54 monopiles have been installed since May of this year, said the release, and the target is to install 70-100 monopiles by the end of October.
“Offshore wind is critical to our all-of-the-above approach to meet the unprecedented growth of our custome...