Coastal Virginia Offshore Wind

Propelling Renewable Energy Forward

Virginia Beach · $2.6B raised

Headquarters
Virginia Beach, Virginia
Total Funding
$2.6B
Last Round
$2.6B Corporate RoundOct 2024
Rounds
1

About

Coastal Virginia Offshore Wind (CVOW) is the largest offshore wind project in the United States, developed and operated by Dominion Energy (NYSE: D). Located approximately 27 miles off the coast of Virginia Beach, Virginia, the 2.6-gigawatt project consists of 176 Siemens Gamesa 14 MW offshore wind turbines. Construction began in early 2024 with the first power delivered to the grid in March 2026, targeting full completion in 2026. When fully operational, CVOW will generate enough carbon-free renewable energy to power up to 660,000 homes and is projected to save customers $3 billion in fuel costs over its first decade. The project has created more than 800 Virginia-based construction jobs and will require 1,000+ local jobs for ongoing operations and maintenance. CVOW is a regulated utility project under Virginia's Clean Economy Act, with onshore transmission infrastructure construction beginning in late 2023.

Summary

Coastal Virginia Offshore Wind is a company based in Virginia Beach. It has raised $2.6B in total across 1 round, most recently a $2.6B Corporate Round round in Oct 2024. Investors include Stonepeak Infrastructure Partners.

Tech & App Stack

4 technologies & apps tracked

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Funding History

Debt FinancingDebt FinancingOct 2024
$5.8B

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Investors