The Virginia State Corporation Commission on Friday approved Dominion Energy Virginia’s proposed Coastal Virginia Offshore Wind project, but not happily.
A news release from the SCC complains about the “excessive costs” of the two turbines about 27 miles off the coast of Virginia Beach and the way it is structured to make customers, rather than the developer, shoulder risks:
“The commission determined that the company’s proposal puts ‘essentially all’ of the risk of the project, including cost overruns, production and performance failures, on Dominion’s customers. Currently, the estimated cost of the project is at least $300 million, excluding financing costs,” the SCC said.