Dominion Energy has announced that its 2.6GW Coastal Virginia Offshore Wind (CVOW) project is 50% complete and on track for completion by the end of 2026. The project will boost the local economy, creating 2,000 jobs and $2bn in economic activity.

Dominion Energy’s colossal offshore wind project will cost more than originally projected, and customers will help to pay for the increase. In a release to shareholders Monday, Dominion Energy announced the price of the Coastal Virginia Offshore Wind (CVOW) project has increased by $900 million,

The President of the United States has promised no new wind development under his watch, but Donald Trump doesn’t appear to hold much sway over Dominion Energy’s progress on its fully-permitted Coastal Virginia Offshore Wind (CVOW) project.

Richmond-based Dominion Energy Inc. said this week the projected total price tag of its Coastal Virginia Offshore Wind project has increased by about 9% to $10.7 billion, up from a previous estimate of $9.8 billion.

Dominion Energy said Coastal Virginia Offshore Wind project is 50% complete and remains on track for on-time completion at year-end 2026. Estimated total project costs rose 9% to $10.7B.

Dominion Energy customers will help pay for the $900 million increase in cost to a wind farm going off the Virginia Beach coast.