Dominion Energy announced Monday afternoon the acquisition of a second offshore wind project area that could put the utility closer to achieving renewable energy goals outlined in state law.
In a news release, the utility stated it will purchase from Avangrid a 40,000-acre lease area that could produce 800 megawatts of electricity off the coast of North Carolina for a price of about $160 million, including $117 million in acquisition and $43 million in development reimbursement costs.
Construction hasn’t started yet on an offshore wind farm in the area, as Avangrid’s proposals for the space and an adjacent one were pending federal regulators’ approvals, which Dominion will still continue to seek.
In a statement on the deal, Dominion’s Chair, President and CEO Bob Blue called out the increased projections in energy needs the utility is facing and touted the company’s experience learned…
