Dominion Cements Virginia’s Offshore Wind Dominance after Lease Deal with Iberdrola’s US Subsidiary

2,500 MW Commonwealth Wind Project to Generate Enough Power for Over 650,000 Homes

Dominion, a leading electric utility, has cemented Virginia’s position as a leader in offshore wind energy development after signing a lease agreement with Avangrid, a subsidiary of Spanish energy giant Iberdrola, for the development of the 2,500 MW Commonwealth Wind project. The project is poised to generate enough clean energy to power over 650,000 homes.

Transforming the US Offshore Wind Market

This significant announcement reinforces Virginia’s commitment to decarbonize its energy sector and meet the state’s ambitious renewable energy targets. The Dominion- Avangrid partnership marks a major milestone in the growth of the US offshore wind industry, with similar projects expected to follow in the coming years.

Project Details

The 2,500 MW Commonwealth Wind project will be developed 43 miles off the coast of Virginia, spanning an area of approximately 115,000 acres. The project will consist of 100 wind turbines, each capable of generating 25 MW of electricity. The project is expected to be operational by 2026.

Environmental Benefits

The Commonwealth Wind project will significantly reduce carbon emissions, an essential step in addressing the global climate crisis. It is estimated that the project will offset over 6.3 million tons of CO2 emissions annually, equivalent to taking over 1.1 million cars off the road.

Economic Benefits

The project is expected to generate significant economic benefits for the region, including:

• Over 1,000 jobs created during construction
• Over 100 long-term operation and maintenance positions
• $1.4 billion in capital expenditures in the state
• Annual tax revenues of over $10 million

Conclusion

The lease agreement between Dominion and Avangrid cements Virginia’s position as a leader in offshore wind energy development, demonstrating the state’s commitment to a clean and sustainable energy future. As the project moves forward, it is expected to set a new standard for the US offshore wind industry, paving the way for similar projects across the country.

FAQs

• Q: What is the capacity of the Commonwealth Wind project?
  A: The project will have a capacity of 2,500 MW.
• Q: Where will the project be located?
  A: The project will be located 43 miles off the coast of Virginia.
• Q: When is the project expected to be operational?
  A: The project is expected to be operational by 2026.
• Q: How many jobs will the project create?
  A: The project will create over 1,000 jobs during construction and over 100 long-term operation and maintenance positions.