Dominion To Develop Two Solar Projects, Provide 32MW To UVA
Zacks Investment Research | Jul 20, 2017 10:18PM ET
Dominion Energy (NYSE:D) announced that it will jointly develop another solar project for the University of Virginia (UVA), with a capacity to generate 15 megawatt (MW) green energy. The UVA Puller Solar facility will be constructed in a 120-acre area in Middlesex County.
The solar project will be developed by Coronal Energy, and constructed and owned by Dominion Energy. The entire power produced from this solar project will be purchased by UVA under a 25-year power-purchase agreement.
This project will be Dominion Energy’s second solar project for the UVA. Last year in December, Dominion entered into an agreement with the university to develop UVA Hollyfield Solar project, a 17 MW solar project. UVA will purchase the entire produce from the project under a similar 25-year power-purchase agreement.
Dominion Energy’s solar projects will help UVA to achieve its target of reducing 25% greenhouse gas emission by 2025 from 2009 levels. The two new solar projects will provide 32 MW of clean energy and take care of 21% of the UVA’s electricity demand.
Dominion to Add 500 MW Solar in Virginia
Dominion Energy plans to add 500 MW of solar energy in Virginia and is well on its way to achieve its target. The new solar additions will increase its solar power generation capacity to nearly 421 MW in Virginia. The company aims to invest more than $800 million in the state by 2020.
Earlier this month, the company acquired a 10 MW solar unit in Clarke County, VA, from the project's developer, an affiliate of Chicago-based Hecate Energy, LLC. The company also declared its intention to acquire another 20 MW solar farm, presently under construction in Northampton County, VA, from the same company, in the third quarter of 2017 (read more: Zacks Investment Research
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