USA: 2.6GW Coastal Virginia Offshore Wind project still on schedule for completion by the end of 2026
Posted on 08 August 2025
{image: The first monopile foundations for Dominion Energy’s Coastal Virginia Offshore Wind project arrive in Portsmouth, Va. in October 2023. Courtesy of Dominion Energy}
Dominion’s 2.6-GW offshore wind farm sees slight price hike from tariffs, CEO says
The added expenses will increase customer bills by an average of three cents a month over the entire life of the project, said Bob Blue, Dominion’s president, CEO and chairman.
Dive Brief:
- Dominion Energy’s 2.6-GW Coastal Virginia Offshore Wind project is still on schedule for completion by the end of 2026, and should qualify for Inflation Reduction Act tax credits under the new safe harbor deadlines, the utility’s leadership said in a Friday earnings call.
- However, the company expects a slightly higher price tag for the project due to President Trump’s new tariff policies. Dominion estimates that the new tariffs will make the project more expensive by $506 million, increasing the total cost of the project to $10.9 billion. The added expenses will increase customer bills by an average of three cents a month over the entire life of the project, said Bob Blue, Dominion’s president, CEO and chairman.
- The utility has slightly lowered its expectations for tariff-related price increases since last quarter “despite a doubling of the steel tariff,” Blue said, “due to both working with vendors to identify cost mitigation strategies as well as completing our analysis of the final trade regulations and appendices.
Source / read more: https://www.utilitydive.com/news/dominion-energy-coastal-virginia-offshore-wind-tariffs-trump/756686/
