Dominion Pushes Offshore Wind, RNG Amid Tough Market

August 8, 2023--Researched by Industrial Info Resources (Sugar Land, Texas)--Much of the U.S. is reeling from a heat wave, but utility companies like Dominion Energy Incorporated (NYSE:D) (Richmond, Virginia) are just now reporting on a different scenario from earlier in the year: For most of the first six months of 2023, weather conditions were milder than expected, leading to weaker earnings for energy providers. But Dominion isn't backing down from plans to explore new avenues, including offshore wind and renewable natural gas (RNG).

Industrial Info is tracking more than $18 billion worth of active and proposed projects from Dominion, including $2.9 billion worth that are nearing or under construction. Despite a long list of regulatory hurdles and other challenges, Dominion executives say the company's Coastal Virginia Offshore Wind project is on budget and on track for completion in late 2026. The company also is working with Smithfield Foods Incorporated on developing RNG projects.

Other companies featured: Longroad Energy and First Solar Incorporated (NASDAQ:FSLR)