Dominion Energy Advances Coastal Virginia Offshore Wind Commercial Project; Announces Federal Regulatory Agency Completes Environmental Analysis
Portfolio Pulse from Benzinga Newsdesk
Dominion Energy's Coastal Virginia Offshore Wind (CVOW) commercial project has reached a major regulatory milestone with the completion of its environmental analysis by the Bureau of Ocean Energy Management. The project remains on budget and on schedule, with offshore construction expected to begin in early 2024 and conclude in late 2026. The project is expected to generate enough carbon-free electricity for 660,000 Virginia homes and save customers more than $3 billion in fuel costs during its first 10 years of operation.
September 25, 2023 | 2:52 pm
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Dominion Energy's CVOW project has cleared a major regulatory hurdle, which keeps the project on track for its planned 2024 start. This progress could boost investor confidence in Dominion Energy's commitment to renewable energy and its ability to deliver on its projects.
The completion of the environmental analysis is a significant milestone for Dominion Energy's CVOW project. This progress demonstrates the company's ability to navigate regulatory processes and stay on track with its project timelines, which could positively impact investor sentiment and potentially the company's stock price in the short term.
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