To develop the demonstration project, Dominion is working with a team of national and international organizations recognized for their offshore expertise. The team includes: Alstom Power Inc., a wind turbine manufacturer and major supplier of equipment and services to the global power generation market; KBR, a global engineering, construction, and services firm with experience in offshore wind; and the Commonwealth of Virginia Department of Mines, Minerals and Energy, which will hold the lease on the demonstration site.
Additional partners include the National Renewable Energy Laboratory, the U.S. Department of Energy's primary national laboratory for renewable energy and energy efficiency research and development; Virginia Tech Advanced Research Institute, representing the Virginia Coastal Energy Research Consortium; Keystone Engineering, Inc. developer of the turbine foundation; Tetra Tech Inc., an environmental consultant; and Newport News Shipbuilding, a division of Huntington Ingalls Industries.
The four borings at the turbine site will be collected approximately 330 feet below the ocean floor. The samples will be used to determine soil characteristics – such as composition and strength – to finalize the design of the wind turbine foundations.
Near shore, the vessel has finished two borings and has nine more to complete. The samples will be used to finalize the installation plan of the underground distribution line that will run from the turbines to Camp Pendleton, where they will be connected to Dominion's electrical grid. Each of these borings will be obtained approximately 80 feet below the ocean floor.Dominion still needs to obtain several regulatory approvals. Based on approval by mid-2016, major construction would occur in 2017 and the wind turbines would begin operating later that year. Dominion (NYSE: D) is one of the nation's largest producers and transporters of energy, with a portfolio of approximately 23,600 megawatts of generation. Dominion operates one of the nation's largest natural gas storage systems and serves utility and retail energy customers in 10 states. For more information about Dominion, visit the company's website at www.dom.com Follow us on Twitter at: www.twitter.com/DomVAPower. 'Like' us on Facebook at www.facebook.com/dominionvirginiapower Photo - http://photos.prnewswire.com/prnh/20140710/126004
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV