In a recent meeting of the Portsmouth Port and Industrial Commission (PPIC), officials provided a comprehensive update on the Port of Virginia's performance and ongoing projects, highlighting significant growth and future opportunities in the offshore wind sector.

Chris, a representative from the Port of Virginia, reported that the port experienced its second-busiest year in history, handling 3.5 million twenty-foot equivalent units (TEUs) in the last fiscal year, which ended on June 30. This marks a notable rebound following a slight dip in volumes post-COVID. Key areas of growth included a 4.2% increase in loaded exports and a 3.6% rise in loaded imports. The rail segment saw particularly impressive growth, with a 13% increase in overall rail business.

The meeting also focused on the ongoing capital improvement program, with $1.4 billion currently being invested in the port. Notably, the construction related to the Coastal Virginia Offshore Wind (CVOW) project is nearing completion, with 96% of the pile driving work finished. The final pile is expected to be driven within the next six weeks, with overall project completion targeted for the end of the calendar year.

Dominion Energy's offshore wind initiatives were a significant topic of discussion, particularly the progress of phase one of the CVOW project, which aims to install 176 turbines off the coast of Virginia Beach. The project is expected to pause construction due to migratory patterns of local wildlife but aims for completion by late 2026. Additionally, Dominion's acquisition of Avangrid's Kitty Hawk Wind project, now referred to as Veil South, is projected to add 800 megawatts of electrical generation capacity.

The meeting underscored the potential economic benefits for Portsmouth, with discussions about how local businesses could benefit from the offshore wind industry's growth. While it was noted that quantifying direct revenue growth from these projects is still premature, there is optimism about the local economic impact as more projects come online.

In other business, the commission discussed the transfer of properties at 6th Street and 1603 7th Street from the housing authority to the PPIC, which is expected to facilitate light industrial development in the area. The planning commission is set to review the application to vacate a right-of-way that bisects the parcels, a necessary step for marketing the combined two-acre site.

The meeting concluded with updates on the FOIA training for commissioners, with only a few remaining to complete the required training, bringing the commission closer to full compliance.

Overall, the discussions highlighted a period of growth and opportunity for the Port of Virginia and the surrounding community, particularly in the burgeoning offshore wind sector.