In its latest Integrated Resource Plan (IRP), Dominion projected a more than 100 percent increase in energy usage over the next 15 years, driven primarily by data center growth. The IRP envisioned 80 percent of this generation to come from low-carbon sources, demonstrating the importance of large offshore wind in its approach.

Richmond-based Dominion Energy Inc. said this week the projected total price tag of its Coastal Virginia Offshore Wind project has increased by about 9% to $10.7 billion, up from a previous estimate of $9.8 billion.

Dominion Energy has announced that its 2.6GW Coastal Virginia Offshore Wind (CVOW) project is 50% complete and on track for completion by the end of 2026. The project will boost the local economy, creating 2,000 jobs and $2bn in economic activity.

Dominion Energy’s colossal offshore wind project will cost more than originally projected, and customers will help to pay for the increase. In a release to shareholders Monday, Dominion Energy announced the price of the Coastal Virginia Offshore Wind (CVOW) project has increased by $900 million,

Because of the latest cost update, the average residential customer using 1,000 kWh per month will see their bill go up by about 43 cents per month.

Dominion Energy said Coastal Virginia Offshore Wind project is 50% complete and remains on track for on-time completion at year-end 2026. Estimated total project costs rose 9% to $10.7B.

Dominion Energy’s Virginia Beach wind farm cost estimate has increased about 9%, from $9.8 billion to $10.7 billion, the power company said Monday.

Dominion Energy customers will help pay for the $900 million increase in cost to a wind farm going off the Virginia Beach coast.