Dominion Resources, Inc., the developer of the Virginia Offshore Wind Technology Advancement Project (VOWTAP), has put the project development on hold because the project’s cost is much higher than expected, writes NBC29.
The company has calculated that the project would cost around USD 400 million, much more that the initially estimated USD 230 million.
Dominion said that it will work together with experts, both local and foreign, to find a way to cut down the cost.
The offshore wind project will comprise two Alstom 6-megawatt turbines mounted on innovative foundations.
Last month , the project was granted a lease by the U.S. Bureau of Ocean Energy Management (BOEM).
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