Core Insights - Dominion Energy's CVOW project costs have increased by $443 million due to recent U.S. tariff policies [1][3] - The total capital cost of the CVOW project has risen from $10.7 billion to approximately $11.2 billion, leading to an expected additional charge of $0.63 on consumer bills [3] Group 1: Project Overview - The CVOW project is a joint venture between Dominion and Stonepeak, located approximately 27 miles off the Virginia coast, with a total installed capacity of 2.6 GW [3] - The project plans to install 176 Siemens Gamesa 14.7 MW offshore wind turbines and three offshore substations [3] Group 2: Project Progress - As of the latest financial report, the CVOW project is progressing as planned, with 66% of the engineering work completed [3] - All monopile foundations have been 100% installed, and 63 out of 176 transition pieces have been installed [3] - The second offshore substation's jacket has been recently installed, with the upper structure set to be installed soon; the third offshore substation is scheduled for installation in Q1 2026 [3] Group 3: Future Expectations - The offshore wind project is expected to achieve its first grid connection by the end of Q1 2026 and is projected to be fully operational by the end of 2026 [3] - Once completed, the project will generate enough renewable energy to power up to 660,000 households, making it the largest commercial offshore wind farm in the U.S. [3]