Dominion's Offshore Wind, Peaking Projects Hit Milestones

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Written by Will Ploch, Assistant Editor-in-Chief for IIR News Intelligence (Sugar Land, Texas)

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Summary

With a major offshore wind project now generating energy, Dominion has projects for renewable, fossil-fuel and nuclear sources on its near-term agenda.

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Data Demand 'Peaks' Interest

Dominion Energy is off to a strong start in 2026, opting to maintain its capital-expenditure (capex) plans following a quarter that, among other developments, saw a long-delayed (and closely watched) offshore wind-energy project begin delivering power. According to Industrial Info Resources data, Dominion is at work on more than $76 billion worth of active and proposed projects across the U.S. Mid-Atlantic region, more than 90% of which is attributed to power-generation projects.

With a project slate that spans power-generation assets fueled by natural gas, nuclear, hydropower, solar and wind, along with numerous transmission and distribution (T&D) efforts, Dominion expects to see roughly $64.7 billion of capex through 2030. Among its projects set to kick off later this year is the Chesterfield Power Station in Chester, Virginia, a natural gas-fired peaking station comprising four simple-cycle combustion turbines, each with 250 megawatts (MW) of output. It will replace several retiring coal-fired units.

As a peaking plant, Chesterfield will "serve as a power generation source when other sources are unavailable or insufficient to meet our customers' energy needs," according to Dominion's website. For more information, the Industrial Info Resources Global Market Intelligence (GMI) Power Plant and Project databases offer details--including key contractors, investment values and necessary equipment--in a plant profile and project report.

Solar accounts for about 60% of Dominion's investment in power-generation projects that are set to finish construction this year. Two are in the company's home state: the 95-MW Blue Ridge Solar Plant in Chatham, Virginia, and the 57-MW Beldale Solar Plant in Powhatan, Virginia. They will use panels provided by Hanwha Energy and First Solar Incorporated, respectively.

Later this summer, Dominion expects to begin construction on the 130.8-MW Hopewell Solar Plant in Dry Fork, Virginia, which will be fewer than 10 miles from the Blue Ridge plant. For more details on these developments, readers can consult detailed reports on the Blue Ridge, Beldale and Hopewell plants.

In a quarterly earnings-related conference call, executives at Dominion said the rapid buildout of data centers in the U.S. Mid-Atlantic region was a significant driver of its capex outlook. Industrial Info Resources is tracking more than $580 billion worth of active and proposed data center projects in the region; for more information, readers can consult a detailed list of project reports.

By the Numbers

• More than $76 billion: Total investment value of Dominion's active and proposed projects
• $64.7 billion: Dominion's estimated capex through 2030
• More than $580 billion: Total value of active and proposed data center projects set for the U.S. Mid-Atlantic region

A Step Forward for Offshore Wind

The single most significant moment for Dominion's first quarter was on March 23, when its Coastal Virginia Offshore Wind (CVOW) project began sending electricity to Virginia's power grid. The company says CVOW is more than 70% completed and eventually will generate up to 9.5 million megawatt-hours (MWh) annually from 176 turbines; the first turbine to begin operations can generate up to 14.7 MWh per day. Dominion expects the full CVOW will wrap up by mid-2027.

Like other offshore wind projects, CVOW has faced consistent opposition from the Trump administration. In January, a federal judge ruled construction on CVOW could continue while Dominion pursues a lawsuit against the administration's efforts to halt its development. Readers can learn more from a detailed project report.

Other renewable projects in development include the modernization of Unit 1 at the Saluda Hydro Power Station in Columbia, South Carolina. Dominion expects to begin construction this summer, replacing a 32-MW model with a newer Westinghouse generator with a 42-MW capacity. For more details, readers can consult the GMI database's plant profile and project report.

Dominion's net income for first-quarter 2026 totaled $621 million, a 6.6% decrease from first-quarter 2025, while revenues stood at $5.02 billion, a 23.14% increase. The company attributed the dip in net income to economic hedging activities and nuclear decommissioning costs, as well as some one-time expenses associated with CVOW.

The Industrial Info Resources GMI Project and Plant databases offer a full list of detailed reports for projects mentioned in this article, and a full list of related plant profiles.

Industrial Info Resources also offers a full list of reports for active and proposed projects from Dominion.

Key Takeaways

• Dominion's project portfolio spans natural gas, renewable and nuclear.
• The rapid buildout of data centers in the U.S. Mid-Atlantic region is a significant driver of Dominion's capex outlook.
• The Coastal Virginia Offshore Wind project sent its first energy to the power grid in March.

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About Industrial Info Resources
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news, and analysis on the industrial process, manufacturing, and energy-related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified, and verified plant and project opportunities. Across the world, Industrial Info Resources is tracking over 250,000 current and future projects worth $30.2 trillion (USD).