- Acquisition would increase company's total long-term contracted solar portfolio to 384 megawatts in operation or under development
RICHMOND, Va., May 1, 2015 /PRNewswire/ -- Dominion (NYSE: D) today announced the acquisition of a 20-megawatt solar facility in California from E.ON North America (www.eon.com). The facility is expected to enter service in the second quarter of 2015.
Alamo Solar is located in San Bernardino County near Helendale, Calif. It has secured a 20-year power purchase agreement (PPA) and an interconnection agreement.
"Dominion is delighted to continue developing solar energy," said David A. Christian, Dominion Generation's chief executive officer. "Solar power provides important fuel diversity in our fleet's electric generation mix."
Alamo Solar is expected to qualify for the federal Investment Tax Credit.
Dominion's total contracted solar generating portfolio consists of 384 megawatts in operation or under development in California, Connecticut, Georgia, Indiana, Tennessee and Utah. The acquisition of Alamo brings Dominion's solar portfolio in California to 241 megawatts.
The company also plans to develop 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