Dominion’s offshore wind energy bid approved

Dominion Virginia Power, a unit of Dominion Resources (NYSE: D), received final approval of its bid to develop offshore wind off the coast of Virginia.

According to the Associated Press, the Justice Department had no objections and the utility signed lease documents for nearly 113,000 acres off the shores of Virginia Beach. Within five years of signing the lease, Dominion must present a construction and operations plan to the Bureau of Ocean Energy Management, the article said.

In September, Dominion Virginia Power won the second offshore wind power lease auction with a bid of $1.6 million. The auction was held by the U.S. Department of the Interior. The site has the potential to support 2,000 MW of wind energy. The first lease auction was held on July 31 for 164,750 acres offshore Rhode Island and Massachusetts. Deepwater Wind New England won that auction with a bid of $3.8 million.

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