Dominion to buy Kitty Hawk North from Avangrid for USD 160m
- Admin
- Jul 9, 2024
- 1 min read
Dominion Energy is set to expand its gigawatts-scale Coastal Virginia Offshore Wind project by acquiring Kitty Hawk North offshore wind lease area in North Carolina from Avangrid Inc. The deal includes a payment of USD 160 million for the 40,000-acre lease. Avangrid retains ownership and rights to Kitty Hawk South lease for potential 2.4 GW. CEO Pedro Azagra highlighted the capital infusion and long-term development plans. Upon completion in Q4 2024, the lease will be renamed CVOW-South, providing power to 200,000 homes. Dominion is constructing the 2.6-GW CVOW expected to finish by 2026 with 25 monopiles already installed.
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