Dominion Energy (NYSE:D) issued a statement today in response to the U.S. Department of Interior’s Director’s Order, which calls for a 90-day suspension of work on the Coastal Virginia Offshore Wind (CVOW) project.
The company emphasized that the CVOW project is crucial for American national security and for addressing Virginia's rapidly growing energy needs, which are among the fastest in the nation.
This growth is largely driven by the necessity to provide reliable power to critical installations, including major war-fighting facilities, the world’s largest warship manufacturer, and the largest concentration of data centers.
Furthermore, the project supports the forefront of the artificial intelligence (AI) revolution.
The statement warned that halting CVOW for any period could compromise grid reliability, especially for some of the most strategically important assets in the U.S.
The disruption would also result in energy inflation and the loss of thousands of jobs.
Dominion Energy highlighted that the CVOW project is American-owned and benefits Virginia customers.
The project has undergone a thorough review by Virginia state regulators, who assessed its costs and benefits in 2022.