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Home›Business & Finance›Dominion Closes USD 160 Million Acquisition for Kitty Hawk North from Avangrid
Business & Finance

October 25, 2024 · about 1 year ago

Dominion Closes USD 160 Million Acquisition for Kitty Hawk North from Avangrid

Dominion Energy has completed the purchase of the Kitty Hawk North offshore wind lease area from Avangrid, Iberdrola’s US subsidiary, for approximately USD 160 million. The agreement includes a lease acquisition payment of USD 117 million, approximately USD 3,000 per acre, along with a reimbursement

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Virginia's two Offshore Wind turbines installed

The site, located some 40 kilometres north of the under-construction Coastal Virginia Offshore Wind (CVOW) project, would be renamed CVOW-South, according to Dominion Energy.

With the 800 MW added from the to-be-named CVOW-South, Dominion’s CVOW portfolio of projects will climb to 3.4 GW of generation capacity.

Recently, the company closed on a transaction to sell a 50 per cent interest in the CVOW project to Stonepeak.

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Dominion Energy and Stonepeak Finalise CVOW Offshore Wind Deal

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