Dominion Upbeat on Long-Term Outlook for Wind, Solar Efforts

February 9, 2023--Researched by Industrial Info Resources (Sugar Land, Texas)--Dominion Energy Incorporated (NYSE:D) (Richmond, Virginia) offered updates and optimism on some of its major projects, including a hotly anticipated windfarm off the coast of Virginia, following a difficult year for U.S. energy providers. Executives expect to see stronger state-level support for its renewable-energy developments, following the momentum spurred by the Inflation Reduction Act.

Industrial Info is tracking about $16.5 billion worth of active projects from Dominion, about $12 billion of which is attributed to renewable-energy sources. Through 2026, Dominion expects to invest $37 billion in growth projects, about 87% of which is geared toward projects related to emission reductions. Dominion's most closely watched project under development, the Coastal Virginia Offshore Windfarm, about 27 miles from Virginia Beach, is now in a key phase of its environmental review process and is "on track and on budget," executives said during a quarterly earnings-related conference call.

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