Dominion buys six California solar projects from Recurrent Energy

Dominion (NYSE: D) announced April 1 the acquisition of six solar development projects from Recurrent Energy, one of North America’s largest developers of utility scale solar projects.

The project sites are located in California’s Fresno, Kern and Kings counties. Long-term power purchase, interconnection, engineering, procurement and construction – and operation and maintenance agreements have been executed for each of the projects. Recurrent Energy will continue to support Dominion through the completion of these projects.

“This investment is another important step forward for Dominion as we expand our renewable energy portfolio,” said Dominion Chairman, President and Chief Executive Officer Thomas Farrell II. “These projects fit well within our portfolio of regulated and long-term contracted assets.”

Construction commenced in the first quarter of this year and all of the solar facilities are expected to reach commercial operation in late 2014 or early 2015. All of them are expected to qualify for the Federal Investment Tax Credit and support Dominion’s growth plan.

Dominion currently has 41 MW of solar energy at sites in Georgia, Connecticut and Indiana. Dominion is one of the nation’s largest producers and transporters of energy, with a portfolio of approximately 23,600 MW of generation, 10,900 miles of natural gas transmission, gathering and storage pipeline, and 6,400 miles of electric transmission lines.

Recurrent Energy has more than 2 GW of solar projects in development in North America.

About Barry Cassell 20414 Articles
Barry Cassell is Chief Analyst for GenerationHub covering coal and emission controls issues, projects and policy. He has covered the coal and power generation industry for more than 24 years, beginning in November 2011 at GenerationHub and prior to that as editor of SNL Energy’s Coal Report. He was formerly with Coal Outlook for 15 years as the publication’s editor and contributing writer, and prior to that he was editor of Coal & Synfuels Technology and associate editor of The Energy Report. He has a bachelor’s degree from Central Michigan University.