Updated January 30, 2026 – Dominion Energy’s latest update on the Coastal Virginia Offshore Wind (CVOW) project shows steady construction momentum, with the project now around 71% complete and first delivery of electricity still expected in Q1 2026. While full completion has shifted slightly to early 2027, Dominion reports major milestones achieved across foundations, export cables, offshore substations, and the installation of the first wind turbine. This continues to highlight progress on what is set to become the largest offshore wind project in the U.S.
Latest Key Project Updates at Coastal Virginia Offshore Wind (CVOW) Project
Overall Project Status
The project is 71% complete.
First delivery of electricity still set for Q1 2026.
Full project completion is now expected in early 2027.
Construction and Installation Progress
Monopiles:
- 176 of 176 installed – 100% complete.
Deepwater export cables:
- 9 of 9 installed – 100% complete.
Transition pieces (TPs):
- 119 installed, 57 fully fabricated and awaiting installation.
Offshore substations (OSS):
- OSS number 1 installed in March 2025.
- OSS number 2 installed in November 2025.
- OSS number 3 scheduled for installation by end of Q1 2026.
Wind turbine generators (WTGs):
- First turbine installed in January 2026.
- Towers, nacelles, and blades largely fabricated, with phased delivery to the Portsmouth Marine Terminal ongoing.
Inter-array and onshore works:
- Cable installation, scour protection, and commissioning activities are progressing in sequence.
Schedule Impacts
Turbine installation is expected to continue through 2026, with some installations extending into early 2027.
Delays were partly caused by a BOEM Suspension Order issued in December 2025, which temporarily halted offshore activities.
A preliminary injunction granted in January 2026 allowed offshore construction at CVOW project to resume while legal proceedings continue. The win against President Trump’s administration has since reverberated with other offshore projects whose construction had been previously stopped. These include Vineyard Wind 1 offshore project, Revolution wind project off Rhode Island, and Equinor’s Empire Wind farm.
Project Cost Update
Updated capital budget: $11.5 billion, including contingency.
Cost increases are primarily due to:
- BOEM-related construction delays covering $228 million.
- Tariff impacts raking $580 million total. Amount is partially offset through cost sharing.
Project-to-date investment: approximately $9.3 billion as of December 31, 2025. Initial budget submitted to the Virginia State Corporation Commission (SCC) in November 2021 was approximately $9.8 billion, but CVOW cost has since increased tremendously.
Remaining project costs: approximately $2.2 billion.
Financing & Ownership
Stonepeak continues as a 50% non-controlling equity partner, funding about half of capital costs.
Dominion Energy’s remaining funding obligation is approximately $1.2 billion.
Existing cost-sharing thresholds remain unchanged and continues to limit customer exposure.
Tariff Impacts
Tariffs on steel and imported components from Mexico, Canada, and the EU remain a material cost factor.
Total estimated tariff impact under current assumptions could reach up to $795 million at full ownership.
Cost-sharing mechanisms significantly reduce the portion borne by customers.
Customer & Regulatory Impacts
Levelized Cost of Electricity (LCOE) remains stable at $84 per MWh.
Estimated average residential customer bill impact attributable to CVOW is approximately minus $0.57 per month. This speaks of the offsets from energy, capacity, and REC benefits.
No change to Dominion Energy’s previously issued operating EPS or credit guidance.
Ongoing Construction
Installation of the third offshore substation.
Completion of remaining transition pieces, scour protection, and cabling.
Turbine installation and commissioning through 2026 into early 2027.
US largest offshore wind project, Coastal Virginia Offshore, remains on schedule as the Charybdis turbine installation vessel docks
Reported Sept 17, 2025 – Charybdis, a first Jones Act-compliant offshore wind turbine installation vessel (WTIV) arrives at Portsmouth Port for Dominion Energy’s Coastal Virginia Offshore Wind (CVOW) project. The 144 meters (472 ft) long, 56 meters (184 ft) wide and 12 meters (38 ft) deep installation vessel – first of its kind in the U.S – set sail from Texas on August 22, 2025. This is according to data from AIS.
With work on installation of monopile foundations and turbine-transition pieces complete, the arrival of the Charybdis WTIV at Portsmouth Port marks the start of another phase for the 2.6 GW Coastal Virginia Offshore Wind project ahead of planned completion in 2026.
Coastal Virginia Offshore Wind (CVOW) Project Factsheet
Developer: Dominion Energy
Location: Approximately 27 miles off the coast of Virginia Beach, Virginia
Capacity: 2.6 gigawatts (GW)
Turbines: 176 offshore wind turbines
Power Output: Enough to power up to 660,000 homes
Project Cost: $10.7 billion
Completion Date: End of 2026
Key Milestones:
- Turbine Installation: Charybdis (wind turbine installation vessel) arrives at Portsmouth Port on Sept 17, 2025
- Progress: Approximately 60% complete as of September 2025
- Construction Start Date: Offshore construction began in May 2024
- Regulatory Approvals: Construction and Operations Plan approved by BOEM on January 28, 2024
- Pilot Project: 12 MW pilot project online, first in federal waters, powering 3,000 homes
Economic Impact:
- Jobs Created: 900 jobs during construction, 1,100 permanent jobs
- Estimated Annual Economic Output: $210 million
- Estimated Annual Pay and Benefits: $82 million
- Projected Fuel Savings: $3 billion for customers during the first decade of operations
Environmental Impact:
- Clean Energy Contribution: CVOW supports Virginia’s clean energy goal of producing 5,200 MW of offshore wind energy by 2035
- Grid Integration: CVOW will further support grid reliability and the transition to renewables
CVOW Faces Tariff, Uncertainty Headwinds
Reported Sept 4, 2025 – Uncertainty rocked the CVOW project in late August 2025 after the Trump Administration halted the 80% complete Revolution Wind project off the coast of Rhode Island and Connecticut. This halt raised questions about whether Dominion Energy‘s $10.9 billion Coastal Virginia Offshore Wind (CVOW) project in Virginia Beach will also be paused.
However, construction of the CVOW project – the largest offshore wind development in the U.S. – remains on track. Work on the onshore transmission systems kicked off in late 2023, while offshore installation activities began in early 2024. CVOW will have a total capacity of 2.6 GW, with 176 turbines planned to produce enough clean, renewable electricity to supply up to 660,000 homes.
According to Dominion Energy, the project is now about 60% finished. Once fully operational, it will meet about a quarter of Dominion’s residential electricity demand in Virginia. More recently, Dominion Energy also signed a 15-year Power Purchase Agreement (PPA) with Swift Current’s Prospect Power Battery Storage Project in Virginia. The BESS project also secured a $242 million financial close on 4th Sept 2025.
In addition to serving residential areas, the offshore wind project could also supply power to data centers. CVOW’s enormous 2.6 GW may also be of interest to projects like the PowerHouse Pacific Data Center being constructed in Sterling, Virginia. The data center expects completion between Q3 2026 to Q2 2027. This is around the same time as Coastal Virginia offshore wind project.
Trump’s Tariffs May Increase Costs by $500 Million
Reported July 25 2025 – Tariffs on steel imports imposed by the Trump administration. These were projected to increase the project’s overall cost. Dominion spokesperson, Jeremy Slayton, noted that the tariffs had already added about $120 million through the second quarter of this year. Slayton also highlighted that this could contribute an additional $500 million if they remain in place until the project’s completion.
April 16, 2024 – DP3 installation vessel (Orion) – owned by Belgium’s DEME – set sail from Invergordon, Scotland, headed to the U.S. Its utility was monopile foundations installation at the Coastal Virginia Offshore Wind (CVOW) project.
April 15, 2024 – DEME had also made another major announcement. Orion had finished monopiles installation works at a Scottish wind farm known as Moray West. DEME also mentioned of Orion’s departure for the CVOW project in Virginia. This vessel had already foreseen deployment in the U.S. offshore wind market. It had done installation works on the offshore substation and monopolies located on the Vineyard 1 wind farm located off Massachusetts.
Referencing AIS data available online, Orion departed on April 15. It was expected to arrive at the Port of Halifax on April 24. Orion then docked at the Port of Norfolk in Virginia. It proceeded with the installation of 176 monopolies, approximately 27 miles from the coast of Virginia. This is complete as of September 2025.
Capacity of the Coastal Virginia Offshore Wind Project
The CVOW project has a capacity of 2.6 GW. DEME secured a contract on the wind farm project when Dominion pointed toward the DEME-Prysmian consortium. It was to serve as the Balance of Plant (BOP) contractor at the Coastal Virginia Offshore Wind project. As a BOP contractor, the consortium was tasked with the transportation and installation of foundations and substations. They also were involved in EPCI services of the inter-array and the export cables at the CVOW project. They held together the important bits of what is set to become the biggest commercial offshore wind farm in the United States.
Technology incorporated at Coastal Virginia Offshore Wind Project
Jan Klaasen, Business Unit Director Americas at DEME, mentioned the following. “A combination of technologies entailing the Vibro Hammer and the Impact Hammer are incorporated in the Coastal Virginia Offshore Wind project. This is also a combination of highly advanced noise mitigation technologies that will protect the marine mammals.”
EEW SPC undertook the production of the monopolies for this 2.6 GW offshore wind farm. EEW SPC had also already sent the first batch in September 2023. This was from its production unit in Rostock, Germany to the Port of Virginia’s Portsmouth Marine Terminal. Delivery work of the 176 transition pieces (TPs) was overseen by Denmark-based Bladt Industries .