Dominion Energy Announces Agreement to Acquire Offshore Wind Lease From Avangrid

Controversial offshore wind lease near Corolla and Sandbridge acquired by Dominion Energy
Members of the Sandbridge community have previously expressed opposition to the wind farm site, due to plans for electricity cables to run underground in the area.

VIRGINIA BEACH, Va. — Dominion Energy announced it has agreed to purchase a 40,000-acre lease off the coast of North Carolina’s Outer Banks, which could be the future site of offshore wind turbines.

Dominion announced it was acquiring the site, previously known as “Kitty Hawk North Wind,” from Avangrid for approximately $160 million. Dominion said the site would be renamed “CVOW-South” and it could support 800 MW of offshore wind generation capacity for 200,000 homes and businesses by the 2030s.

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Virginia Electric and Power Company, a wholly owned subsidiary of Dominion Energy, Inc. has agreed to acquire the Kitty Hawk North Wind offshore wind lease and associated developments, which will be known as CVOW-South, from Avangrid, Inc., for approximately $160 million, inclusive of a payment of about $3,000 per acre for the nearly 40,000-acre lease.

If approved by regulators and constructed, CVOW-South would have a capacity of 800 MW, enough capacity to serve 200,000 homes and businesses, and the project would connect to the company’s transmission grid.  The company does not have detailed cost or in-service date estimates at this time.  Such estimates would be developed during future development phases.

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