Dominion Acquires Solar Energy Project In Utah
RICHMOND, Va., Nov. 10, 2014 /PRNewswire/ -- Dominion (NYSE: D) has acquired Pavant Solar, a 50-megawatt solar energy project, from juwi solar (JSI), a global renewable energy provider with U.S. operations based in Boulder, Colo. Pavant Solar, located in Millard County, is Dominion's first solar development in Utah and is expected to enter service in the second half of 2015.
David A. Christian, chief executive officer of Dominion Generation, said, "Solar energy is the key component of Dominion's growth in renewable generating capacity. We are delighted to expand our solar footprint into Utah."
The project has secured a 20-year power purchase agreement and an interconnection agreement. JSI Construction Group has been awarded the engineering, procurement, and construction contract, and JSI O&M Group will monitor and maintain the project on behalf of Dominion during the initial years of operation.
With the addition of Pavant Solar, Dominion has 324 megawatts of solar generating capacity in development, under construction or in operation in California, Connecticut, Georgia, Indiana, Tennessee and Utah. Dominion Virginia Power, an electric utility serving 2.5 million customer accounts in Virginia and northeast North Carolina, also has various projects in operation or under development as part of its Solar Partnership Program.
The company's renewable portfolio also includes approximately 850 megawatts of capacity generated by biomass, water and wind. Those facilities are in Indiana, North Carolina, Virginia and West Virginia.
Dominion is one of the nation's largest producers and transporters of energy, with a portfolio of approximately 23,600 megawatts of generation, 10,900 miles of natural gas transmission, gathering and storage pipeline, and 6,400 miles of electric transmission lines. Dominion operates one of the nation's largest natural gas storage systems with 947 billion cubic feet of storage capacity and serves utility and retail energy customers in 10 states. For more information about Dominion, visit the company's website at www.dom.com.
This Dominion news release includes certain "forward-looking information." Examples include information as to expectations, beliefs, plans, goals, objectives and future financial or other performance or assumptions concerning matters discussed in this release. Our business is influenced by many factors that are difficult to predict, involve uncertainties that may materially affect actual results and are often beyond our ability to control or estimate precisely. We have identified and will in the future identify in our SEC Reports on Forms 10-K and 10-Q a number of factors that could cause actual results to differ from those in the forward-looking statements. We refer you to those discussions for further information. Any forward-looking statement speaks only as of the date on which it is made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which it is made.