“This project is consistent with the goal of securing American energy dominance,” said Bob Blue, the utility’s CEO, echoing rhetoric voiced by Trump.
Blue reported that CVOW is “months away from first delivery of electricity to customers in early 2026” and on schedule for full completion by the end of next year.
Much of CVOW’s success stems from the fact that it has garnered bipartisan support, including that of the state’s governor, Glenn Youngkin, a Republican.
Despite all the progress, challenges still lurk, said Blue: “It’s difficult to fully assess the impact tariffs may have to the project’s final cost.”
The company estimates the project’s costs could rise about $120 million by the end of June due to tariffs. Cumulatively, the company could lose $500 million if tariffs remain in place until the end of 2026.
“Right now, everything is very slow … not just offshore wind,” said Justin Slater, an executive at Fincantieri Marine Group, which serves the shipyard industry. He believes the vessel builders that serve offshore wind and passenger ferrying could feel the impact of tariffs very soon.
That the Trump administration’s animosity toward wind is taking a toll on the sector was clear at last week’s industry meeting in Virginia Beach, which was sponsored, in part, by CVOW.
“A lot of people are holding their breath right now,” said Gordon Videll, CEO of Sea Services North America, a co-op of fishermen that provide vessel services to wind developers. The company could lose millions of dollars if Empire Wind’s developer Equinor can’t continue construction. But the Virginia project ramping back up feels like a bright spot, Videll said.
