How Dominion Avoided Pitfalls to Prosper in Wind Farm Industry
- Biggest US offshore wind farm on schedule as rivals pull back
- Company’s strategy to develop, deliver power paying off
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A business model that allows Dominion Energy Inc. to be both a wind farm developer and a customer-facing utility is helping the company succeed in sharp contrast to others in the industry that are delaying or canceling US projects.
The company announced Friday it anticipates producing electricity at its $9.8 billion Coastal Virginia wind farm for $77 a megawatt hour, down from earlier forecasts of between $80 and $90. The largest US project yet to win regulatory approval remains on track to begin offshore construction next year and is eventually expected to supply enough power for 660,000 homes.