Dominion, a leading producer and transporter of energy, is acquiring two solar projects totaling 42 megawatts from EDF Renewable Energy.
The acquisition is expected to close in 2015, Dominion said.
Dominion has an energy portfolio of approximately 23,600 megawatts of generation and 10,900 miles of natural gas transmission.
One of the projects, Cottonwood project, is a 24 MW facility with solar sites located in Kings, Kern and Marin Counties. The project has secured a 25-year power purchase agreement (PPA), interconnection agreements and engineering, procurement, construction (EPC) contracts. It is expected to come online in the first half of 2015.
The Catalina Solar 2 project, located in Kern County, has secured a 20-year PPA, an interconnection agreement and an EPC contract. The 18 MW solar energy facility is expected to enter service in the second quarter of 2015.
According to David A. Christian, CEO of Dominion Generation, the new acquisition would help increase the company’s renewable energy generation. “We are working to identify additional solar projects to boost Dominion’s renewable energy portfolio and support our long-term growth plan.”
The Cottonwood and Catalina Solar 2 projects are expected to qualify for the federal Investment Tax Credit.
The company has been actively participating in California, Connecticut, Georgia,Indiana and Tennessee solar markets.
The new development follows similar acquisition in Tennessee recently. The projects are being developed by Strata Solar of Chapel Hill, N.C.
Dominion has also signed agreement with EDF Renewable Energy to purchase solar energy projects totaling 159 megawatts in California, including the 20-megawatt CID solar energy project from EDF Renewable Energy. All of these projects are under construction and are expected to be operational by late 2014.
In Virginia, the company’s Dominion Virginia Power electric utility is implementing the Solar Partnership Program. Under that program, Dominion will construct and operate up to 30 megawatts of company-owned solar facilities on leased rooftops or on the grounds of commercial businesses and public properties throughout the Virginia service area.
Dominion Virginia Power also announced today that it has selected Capital One’s Chester facility to house the first ground-mounted solar energy system in Central Virginia. The installation of nearly 2,500 solar panels will generate about 500 kilowatts of electricity at peak, enough to power about 125 homes, the company said.