Dominion Energy Virginia says the deal it announced Thursday to sell half of its interest in its Coastal Virginia Offshore Wind project to investment firm Stonepeak is not expected to have any impact on ratepayers.
Dominion spokesperson Aaron Ruby said the deal will have no “impacts to the cost, customer bill impact, construction or operation of CVOW and no change to the consumer protections approved by” Virginia’s State Corporation Commission, which regulates utilities in the commonwealth.
The deal must be approved by the SCC, which is expected to make a decision on it by the end of 2024.
Under the agreement, Dominion will retain control of the project, a 2.6 gigawatt wind farm off the coast of Virginia Beach that will cost an estimated $9.8 billion.
The deal follows the conclusion of a top-down business review Dominion began last year to improve its financial standing and is seen as a…
