- Acquisition would increase company's total long-term contracted solar portfolio to 364 megawatts in operation or under construction
RICHMOND, Va., April 15, 2015 /PRNewswire/ -- Dominion (NYSE: D) today announced the acquisition of a 20-megawatt solar facility in Georgia from HelioSage Energy. The facility is expected to enter service in 2015.
The Richland Solar Center is located in Twiggs County near Jeffersonville, Ga. It has secured a 20-year power purchase agreement (PPA) and interconnection agreements with Georgia Power. An engineering, procurement, construction (EPC) contract has also been signed.
David A. Christian, chief executive officer of Dominion Generation, said:
"The Richland acquisition adds to our diverse generation fleet fuel mix and furthers Dominion's goal of having 625 megawatts of contracted solar generating capacity in service by the end of 2016."
The Richland Solar Center is expected to qualify for the federal Investment Tax Credit.
Dominion's total contracted solar generating portfolio consists of 364 megawatts in operation or under development in California, Connecticut, Georgia, Indiana, Tennessee and Utah. The 7.7-megawatt Azalea Solar Power Facility, located outside Davisboro, Ga., is also owned and operated by Dominion. The company plans to develop up to 400 megawatts of utility solar generation in Virginia by 2020.
Dominion is one of the nation's largest producers and transporters of energy, with a portfolio of approximately 24,600 megawatts of generation, 12,200 miles of natural gas transmission, gathering and storage pipeline, and 6,455 miles of electric transmission lines. Dominion operates one of the nation's largest natural gas storage systems with 928 billion cubic feet of storage capacity and serves utility and retail energy customers in 13 states. For more information about Dominion, visit the company's website at www.dom.com.
For further information: Media (Dominion): Ryan Frazier, (804) 819-2521 or C.Ryan.Frazier@dom.com; Financial analysts: Kristy Babcock, (804) 819-2492 or Kristy.R.Babcock@dom.com