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Dominion finalises sale of 50% stake in CVOW project to Stonepeak

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Dominion Energy has completed the sale of a 50% non-controlling interest in its Coastal Virginia Offshore Wind (CVOW) commercial project to Stonepeak, an alternative investment firm.  This transaction, first announced in February 2024, has provided Dominion Energy with $2.6 billion in proceeds, approximately half of the capital investment made in the project so far. Stonepeak will also finance half of the remaining project costs, following pre-disclosed conditions. Dominion Energy retains full operational control over the…

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Dominion Energy and Amazon sign MoU for SMR development in Virginia

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Dominion Energy Virginia has entered into a partnership with Amazon to explore the advancement of small modular reactor (SMR) nuclear technology within Virginia.  The two companies signed a memorandum of understanding (MoU) to develop innovative structures for SMR projects, aiming to bring new sources of carbon-free energy to the state. Kevin Miller, Amazon’s global data centers vice-president, emphasized that nuclear energy’s safety and reliability align with Amazon’s goal to achieve net zero carbon by 2040….

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Sumitomo and CEP Solar to deliver 1.5GW of clean energy projects in Virginia

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Sumitomo Corporation, through its Sumitomo Corporation of Americas and Perennial Power Holdings, has partnered with CEP Solar to develop over 1.5GW of solar and battery storage assets in Virginia, US.  This joint venture will combine CEP Solar’s local expertise with Sumitomo’s project finance capabilities, accelerating the expansion of renewable energy in the region. Construction is expected to begin in late 2025. Takuya Yoshizawa, president of Perennial Power Holdings, highlighted that the partnership enhances geographic diversity…