Dominion ‘Energy announced on Friday that the total ‘project costs’ for Coastal -Virginia Offshore Wind has increased from $11.2 billion to approximately $11.5 billion.
The estimated cost changes reflect the temporary suspension of?ofwork issued by the U.S. government in December, as well as costs associated with tariffs.
A federal judge has allowed Dominion, which was suspended by the Trump Administration over national security concerns, to resume work on the Virginia offshore wind project.
Dominion, in a filing with the regulatory authorities, said that the project had been originally scheduled to be completed by the end 2026. However, the company now expects it to be finished early 2027.
Coastal Virginia Offshore Wind Project, the U.S. utility’s project to generate enough energy for more than 600,000.000 homes, has already cost?nearly 9 billion dollars. Reporting by Vallari Shrivastava in Bengaluru and Sumit Saha; editing by Shashesh Kuber
(source: Reuters)