Dominion Energy Acquires, Plans to Acquire Four North Carolina Solar Energy Projects

- Projects total 20 megawatts of solar capacity

- Company closes on two projects, expect to close on remaining two in third-quarter 2017

- Dominion Energy's solar portfolio in Va., N.C. grows to more than 1,100 megawatts

- Power purchase agreements in place

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Aug 03, 2017, 10:15 ET

RICHMOND, Va., Aug. 3, 2017 /PRNewswire/ -- Dominion Energy (NYSE: D) announced today that it has acquired two 5-megawatt (AC) solar generating facilities and plans to purchase two other solar farms totaling approximately 10 megawatts (AC) later in the third quarter from subsidiaries of Chapel Hill, N.C.-based Strata Solar.

Dominion Energy's solar portfolio in North Carolina and Virginia includes more than 600 megawatts of capacity owned by one of the company's generation-holding subsidiaries and more than 500 megawatts of solar capacity under contract by Dominion Energy's electric utilities in the two states. Together, these arrays could produce enough electricity to power 275,000 homes and businesses.

"With these acquisitions, Dominion Energy is well on its way to bringing into service more than 700 megawatts of solar energy in North Carolina and Virginia by the end of 2018," said Keith Windle, vice president – Business Development & Merchant Operations. "We will continue to develop and acquire clean energy projects that help customers meet their energy needs."

Dominion Energy has closed on the two 5-megawatt facilities in North Carolina – Fremont in Wayne County and Moorings 2 in Lenoir County. The company expects to purchase the Clipperton and Pikeville projects – each about 5 megawatts (AC) and under construction in Sampson County and Wayne County, respectively – when they are completed, anticipated later in the third quarter.

Agreements are in place for sale of the offtake from the solar facilities.

Dominion Energy has more than 2,000 megawatts of solar generating capacity – including company-owned assets and assets that are contracted by Dominion Energy utilities – in operation or under development in nine states.

About Dominion Energy
Dominion Energy is one of the nation's largest producers and transporters of energy, with a portfolio of approximately 25,700 megawatts of generation, 15,000 miles of natural gas transmission, gathering and storage pipeline, and 6,600 miles of electric transmission lines. Dominion Energy operates one of the nation's largest natural gas storage systems with 1 trillion cubic feet of storage capacity and serves more than 6 million utility and retail energy customers. For more information about Dominion Energy, visit the company's website at www.DominionEnergy.com.

SOURCE Dominion Energy