Dominion brings its total solar generation portfolio to 232 MW by acquiring the 20 MW CID Solar Project from EDF Renewable Energy. Electricity generated by the project will be delivered to Pacific Gas and Electric Company under a 20-year Power Purchase Agreement.
Dominion (NYSE: D) has announced an agreement to acquire the 20 MW CID Solar Project from EDF Renewable Energy, one of North America’s largest independent power producers and renewable energy project developers. The acquisition is expected to close later this year upon completion of installation and prior to the project beginning operations. After the sale closes, EDF Renewable Energy will manage the commissioning and place the project in service.
CID Solar Project, located on 200 acres of private land in Kings County near the City of Corcoran, California, was developed by EDF Renewable Energy. It uses First Solar Series 3 solar PV modules with horizontal single-axis trackers. Construction began on June 12 of this year and is expected to be completed in the fall.
Energy generated by the project will be delivered to Pacific Gas and Electric Company (PG&E) under a 20-year Power Purchase Agreement (PPA).
“California leads the nation in solar generation and the experience and knowledge we gather there will serve us well as we expand our solar portfolio into other areas,” said David A. Christian, chief executive officer for Dominion Generation. “This project fits well within our portfolio of regulated and long-term contracted assets.”
The project is expected to qualify for the Federal Investment Tax Credit and support Dominion’s growth plan.
In April, Dominion announced the purchase of six other solar projects in California, totaling 139 MW. Those projects are currently under construction and are expected to be operational by late 2014.
The new acquisition will bring Dominion’s total solar generating portfolio to 232 MW. Along with the 159 MW for the California projects, the company recently obtained two Tennessee projects that will generate 32 MW and has 41 MW of solar energy facilities operating at sites in Georgia, Connecticut, and Indiana. The company also has various projects under development in Virginia as part of its Solar Partnership Program.