Overview
- Executives reaffirmed an expected first electricity from the 2.6 GW Coastal Virginia Offshore Wind project before the end of March 2026 following a court-ordered restart in January.
- Dominion estimated total project cost at roughly $11.5 billion, citing a $228 million hit from the December 2025 BOEM stop-work order and, per company comments reported Monday, about $137 million tied to tariffs.
- Turbine installation has entered a deliberate, slower phase, with winter weather causing more than a week of downtime and a human performance error damaging a blade and triggering an almost two-week iteration delay.
- The current budget carries installation contingency through July 2027, and Dominion said each additional quarter beyond that could add about $150 million to $200 million, with turbines entering service in strings into early 2027.
- The company lifted its five-year capital plan to about $65 billion driven by contracted data center demand, outlining financing of roughly 60% from internal cash flow and 10% from programmatic equity along with tighter terms for large-load customers.