Dominion Acquires Solar Facility In California
- Adds to company's growing renewable portfolio
- 20-megawatt solar facility under long-term power purchase agreement
Nov 24, 2014, 07:30 ET
RICHMOND, Va., Nov. 24, 2014 /PRNewswire/ -- Dominion (NYSE: D) earlier this month acquired West Antelope Solar Park, a 20-megawatt solar energy facility, from Canadian Solar Inc. (NASDAQ: CSIQ). West Antelope Solar Park, located near Lancaster, Calif., in Los Angeles County, has commenced operations. A 20-year power purchase agreement is also in place.
"Dominion is expanding our solar footprint while reducing our carbon emissions intensity," David A. Christian, chief executive officer of Dominion Generation, said. "We plan to continue pursuing additional solar opportunities."
With the addition of West Antelope Solar Park, Dominion has 344 megawatts of solar generating capacity – about 220 megawatts of which are in California – in development, under construction or in operation across six states. 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.
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.
About Canadian Solar Inc.
Founded in 2001 in Ontario, Canada, Canadian Solar is one of the world's largest and foremost solar power companies. As a leading manufacturer of solar photovoltaic modules and provider of solar energy solutions, Canadian Solar has an industry leading and geographically diversified pipeline of utility-scale solar power projects as well as a track record of successful solar deployment boasting over 7 gigawatts of premium quality modules installed in over 70 countries during the past decade. Canadian Solar is committed to providing high-quality solar products and solar energy solutions to customers around the world. For more information about our company, products and projects please visit www.canadiansolar.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.
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