Dominion Energy and Stonepeak Announce Closure of Sale of Noncontrolling Equity Interest in Coastal Virginia Offshore Wind Project
Vinson & Elkins advised Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, in connection with an agreement with Dominion Energy to acquire a 50% interest in Dominion’s Coastal Virginia Offshore Wind project (CVOW) through the formation of an offshore wind partnership.
The 2.6-gigawatt CVOW, the largest offshore wind farm currently under construction in the U.S., is on schedule to generate enough clean, renewable energy to power up to 660,000 homes once fully constructed in late 2026. CVOW will consist of 176 turbines and three offshore substations in a nearly 113,000-acre lease area off the coast of Virginia Beach.
The Vinson & Elkins team was led by partners Matt Falcone, Benji Barron and Eamon Nolan, counsel Zach Banks and senior associate Jordan Fossee, with assistance from partners Kaam Sahely, Andrew Nealon, Aaron Prince, Josh Heideman, John Michael and Michael Joyce, counsel Alistair Wishart, senior associate Brent Schoradt, and associates Tushar Parashar, Brad Oster, Brian Park, Michelle West, Peter Kim, Garrett Finch, Darren Fox and Hunter Michielson. Other key team members include partners David Peck, Sean Moran, Lauren Collins and Wendy Salinas, counsel Peter Rogers and associates Trey Frye and Lauren Nieman; partners Matt Dobbins and Brandon Tuck and associates Kelly Rondinelli and Kevin Moscon; partner Jeffrey Jakubiak and senior associate Andrew DeVore; partner David Wicklund and Tzvi Werzberger, counsel Carter Olson and associate Avi Shchigel; counsel Ken Adler; partners Craig Zieminski and Jamie Leader, counsel Elizabeth McIntyre and Brian Howard, senior associate Will Stripling and associates Alexander Sprenger, Ami Egerstrom, Eli Sterbcow and Emily Bamesberger.
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