Dominion Energy estimates its 2.6-GW Coastal Virginia Offshore Wind project will cost about $11.7 billion when all is said and done, up nearly $300 million from its most recent cost estimate in April, the company said Friday.
The $288 million cost increase is due to revised network upgrade costs assigned by the PJM Interconnection, tariffs imposed by the Trump administration in April and updated turbine installation projections, Dominion said in its second-quarter filing with the U.S. Securities and Exchange Commission.
The company now estimates it will complete all work on the project by the end of 2027, a change from previous projections that saw work wrapping up early next year.
The Virginia-based company, which operates regulated utilities in Virginia and South Carolina and owns commercial power plants in other Eastern states, provided the offshore wind update alongside other substantive updates on its data center pipeline, nonregulated generation assets and proposed merger with NextEra Energy.
$11.7B
