Saturday, December 9, 2023

Port of Virginia and Dominion Energy Leasing Deal for Part of Portsmouth Marine Terminal

Port of Virginia has agreed to lease a part of Portsmouth Marine Terminal to Dominion Energy to use as a staging area for offshore wind turbines. (Unsplash/Nicholas Doherty)

STATEWIDE — The Port of Virginia has reached a deal with Dominion Energy to use 72 acres of the Portsmouth Marine Terminal as a staging and pre-assembly area for offshore wind energy turbines, according to a press release from Governor Ralph Northam.

The turbines and their foundations will be installed 27 miles off the coast of Virginia Beach. It is projected that the turbines will produce more than 2,600 megawatts of clean, renewable energy. That translates to enough power for up to 660,000 homes.

The 10-year lease is valued at $4.4 million annually. The deal includes two five-year renewals as well as upgrades to the terminal itself to make sure it can handle the weight of large components that will be needed for the installation and continued maintenance.

“This announcement is yet another milestone toward making Virginia the national leader in offshore wind power,” said Northam. “The Commonwealth and Dominion Energy are standing together to promote clean energy, reduce carbon emissions, create jobs, and build a new American industry on the East Coast of the United States.”

This comes a year and a half after Northam signed the Virginia Clean Economy Act into law. The law sets a target of 2034 for producing at least 5,200 megawatts of energy through offshore wind, and a target of 2045 for achieving 100 percent carbon-free energy production.

The Port of Virginia is a group of four marine terminals around Hampton Roads. Along with the Portsmouth Marine Terminal, the Norfolk International, Newport News Marine and the Virginia International Gateway, also in Portsmouth, process more than 4 million shipping containers every year.

“There is no better state than Virginia to host this year’s International Offshore Wind Partnering Forum,” said Business Network for Offshore Wind CEO and President Liz Burdock. “Under Governor Northam’s leadership, Virginia continues to show a strong commitment to offshore wind power and the many benefits it offers—job creation, green energy, new technology, and more.”

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