---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-045358"
form_type: "8-K"
ticker: "D"
cik: "0000715957"
company_name: "DOMINION ENERGY, INC"
filed_at: "2024-02-26T23:59:59+00:00"
generated_at: "2026-06-05T15:59:41.164622+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Dominion Energy sells 50% stake in Coastal Virginia Offshore Wind to Stonepeak for ~$3B

## Summary
- Stonepeak affiliate to contribute ~$3B net of $145M withholding for 50% non-controlling interest in CVOW project.
- Dominion retains full operational control of construction and operations; Stonepeak gets customary minority rights.
- Total construction costs capped at $11.3B for mandatory contributions; optional up to $13.7B with Dominion's share increasing if Stonepeak opts out.
- Transaction expected to close by end of 2024, subject to Virginia SCC, NC UC, BOEM approvals.
- Termination fee of $200M payable by Stonepeak under certain conditions; Stonepeak provided limited guaranty and equity/debt commitment letters.

## SEC filing metadata
- accession: 0001193125-24-045358
- form_type: 8-K
- ticker: D
- cik: 0000715957
- company_name: DOMINION ENERGY, INC
- filed_at: 2024-02-26T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/715957/000119312524045358/0001193125-24-045358-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/715957/000119312524045358/d766880d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-045358
- JSON: https://secwatch.observer/filing/0001193125-24-045358.json
- Plain text: https://secwatch.observer/filing/0001193125-24-045358.txt

## Key facts
- Material Agreements
  DOMINION ENERGY, INC entered into Equity Capital Contribution Agreement with Dunedin Member LLC, an affiliated investment vehicle of Stonepeak Partners LLC valued at approximately $3 billion (effective 2024-02-21).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: Dunedin Member LLC, an affiliated investment vehicle of Stonepeak Partners LLC
  - Value: approximately $3 billion
  - Effective: 2024-02-21
  source text: Virginia Electric and Power Company (Virginia Power), a wholly-owned subsidiary of Dominion Energy, Inc. (Dominion Energy), and Dunedin Member LLC, a Delaware limited liability company (Investor), an affiliated investment vehicle of Stonepeak Partners LLC (Stonepeak) entered into an Equity Capital Contribution Agreement (the Contribution Agreement)
  evidence_url: https://www.sec.gov/Archives/edgar/data/715957/000119312524045358/0001193125-24-045358-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.