Virginia offshore’s coastal project remains on the way – offshore engineer

Dominion Energy said the 2,6GW Virginia offshore wind project is now approximately 50% completed and remains on the way to complete the time at the end of 2026.

CVOW is credited to create 2000 direct and indirect American jobs and $ 2 billion in economic activity.

CVOW continues to achieve significant stages of construction, including the successful installation of the first 16 transitional tracks, which serve as an intersection between the base and the tower for each of the 176 wind turbines.

The delivery of the first of the three 4300-tone offshore substations to the seaside terminal in Portsmouth at Virginia Beach happened in late January.

The fully crafted monopiles, transition pieces, underwater cable and other main components continue to be delivered to the preparation for the installation of the graphics. Currently, there is a construction of the wind turbine and blades, with Naselle manufacturing later this quarter.

Siemensgamesa, the project wind turbine provider, produces the same model of the CVOW turbine as successfully designed, installed and is now working in the Moray West Offshore wind project.

Charybdis, the American built, marked and equipped, a wind -turbine installation ship has already been completed by 96% and has started maritime tests in Browns, Texas.

Estimated total project costs, including emergencies and exclusion of financing costs, increased by approximately 9%, from $ 9.8 billion to $ 10.7 billion. This is the first and only increase, as the initial budget of the project was presented to the Virginia State Corporation Commission (SCC) in November 2021, about 39 months ago.

Compared to the initial budget of $ 9.8 billion, the increase in costs is due to the higher cost of upgrading the network appointed by PJM, the regional operator of the electrical network, of the CVOW as part of the generator interconnection process and Higher costs for electrical connection of ours. Higher estimates of the cost of upgrading the PJM network reflect a significant increase in demand growth, which requires gradual generation and transmission resources throughout the system.

Network superstructures do not affect the construction of projects or the timeline and represent the most large unfixed entrance to the project costs.

In addition to changes in the cost of the coast, the summarized costs for other project costs, including offshore, remain in line with the original budget.
The current unused emergency situations of the $ 222 million project, which is ~ $ 100 million from the last update, now represents ~ 5% of the other project costs.

The updated leveled project energy price (“LCOE”) of ~ $ 62 (compared to the previous rating in November 2024 from $ 56) continues to compare very favorably with alternatives for a new generation, including solar, battery and gas generation, Dominion says S