August 8 (Renewables Now) – The Virginia State Corporation Commission has given the green light to US utility Dominion Energy Inc’s (NYSE:D) 2.6-GW Coastal Virginia Offshore Wind (CVOW) project in US waters, the developer said Friday.
According to the regulator, the proposal aligns with all Virginia statutory requirements for rider cost recovery and for the issuance of a Certificate of Public Convenience and Necessity for the onshore electric interconnection and transmission facilities that will connect the plant to the transmission network.
The Commission’s final order includes a performance requirement that is being reviewed by the developer.
The Virginia State Corporation Commission approved a revenue requirement that envisages some USD 78.7 million (EUR 77.4m) to be recovered between September 1, 2022 and August 31, 2023 through a new rate adjustment clause. Over the life of the project, the rider clause will lead to an increase of USD 4.72 in the average monthly bill of residential customers and a peak monthly bill increase of USD 14.22 in 2027.
CVOW will be located about 27 miles (43 km) off the coast of Virginia Beach and is expected to be capable of producing electricity for up to 660,000 local homes per year. The project will be realised at a cost of roughly USD 9.8 billion.
The offshore wind farm is set to become fully operational by the end of 2026. The installation of its 176 Siemens Gamesa turbines is planned to begin in 2024, the manufacturer said last December when it was contracted to supply its SG 14-222 DD turbines for the project.
The commercial project follows the 12-MW CVOW pilot scheme that was put on stream in October 2020.
(USD 1.0 = EUR 0.982)