July 10, 2024 — Dominion Energy is set to acquire an offshore wind lease from Avangrid, Inc., near Kitty Hawk, N.C., for approximately $160 million providing another potential option to meet the growing demand for electric use.
Virginia Electric and Power Company, a subsidiary of Dominion, announced the agreement this week.
If approved by regulators and constructed, the offshore facility 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.