Half share of America's largest offshore wind farm sold for $2.6bn
Dominion Energy closes sale to Stonepeak as 2.6GW CVOW advances to 2026 completion
Dominion Energy has closed a deal to sell a half share of the largest US offshore wind farm under construction for $2.6bn.
Dominion said then that it will form a subsidiary with Stonepeak while retaining control over the project’s construction and operations.
CVOW, which will use 14MW Siemens Gamesa turbines, is currently installing monopile foundations and was in August said to be on track for its scheduled completion in late 2026.
Stonepeak will now fund 50% of ongoing project development costs.
Dominion CEO Bob Blue said: “Stonepeak is one of the world's largest infrastructure investors in large energy projects such as offshore wind, and its financial participation in CVOW will benefit both the project and the people who will rely on electricity from CVOW to keep the lights on and fuel economic growth.”