- Associated Press - Saturday, May 28, 2016

RICHMOND, Va. (AP) - Dominion Virginia Power has lost a $40 million federal grant for its offshore wind pilot program.

The Richmond Times-Dispatch reports (http://bit.ly/1X3xRb5 ) that the U.S. Department of Energy withdrew the grant after the utility couldn’t guarantee the project could be completed by 2020. Dominion said Friday that it is “assessing options.”

Last year, the utility balked when cost estimates for the two turbines planned 27 miles off the Virginia Beach coast came in at nearly double the company’s $230 million estimate. Another round of bids this year brought the price down to as low as $300 million.

The two turbines are meant to gauge the feasibility of building a larger, 2,000-megawatt wind farm across 113,000 acres offshore.

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Information from: Richmond Times-Dispatch, http://www.timesdispatch.com

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