Prysmian is preparing to start the cable installation for the largest offshore wind project in the US, Coastal Virginia Offshore Wind (CVOW). Dominion Energy’s 2.6 GW project in Virginia is Prysmian’s second offshore wind project in the US following the Vineyard Wind 1 offshore wind farm in Massachusetts, successfully installed and tested. The total value of the contract is about €2 billion, of which around €740 million is related to Prysmian for its cable supply and installation works. CVOW is expected to be in service in 2026 and is set to play a crucial role in the clean energy future of the Commonwealth of Virginia. Once fully operational, the 176-turbine offshore wind farm, located about 27 miles (43 kilometers) from the coast of Virginia Beach, will supply clean, reliable renewable power to up to 660,000 households.
The company is investing in the United States to build a new submarine plant as part of its commitment to supporting the role of offshore wind power in the US energy transition. US President Joe Biden has set a target of installing 30 GW in offshore wind power by 2030 to achieve the transition from fossil fuels to renewable sources to cope with global warming.