Dominion Virginia Power shelves plans for offshore wind project

 Dominion Virginia Power shelves plans for offshore wind project

Dominion Virginia Power, a subsidiary of Dominion (NYSE: D), put plans to build an offshore wind project on hold.
The Virginia Offshore Wind Technology Advancement Project (VOWTAP) is a partnership between Dominion Virginia Power and the Virginia Department of Mines, Minerals and Energy. The partners planned to build two Alstom 6-MW direct-drive wind turbines off the coast of Virginia Beach, but said cost concerns are the reason behind shelving the project. The wind project was expected to cost $230 million, according to North American Windpower. Dominion put out a request for proposal for an engineering, procurement and construction contractor to build the plant, but the company only received one bid for nearly twice the amount, the article said.
Dominion Virginia Power won the second U.S. offshore wind power lease auction held by the U.S. Interior Department with a bid of $1.6 million. The auction was for the use of 112,799 acres on the Outer Continental Shelf approximately 23.5 miles off Virginia Beach.

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