Dominion adds to California portfolio
Dominion has announced an agreement to acquire the 20MW CID solar project in California from EDF Renewable Energy, boosting the Virginia-based utility holding company’s solar generating portfolio to 232MW.
Financial terms were not made public. Dominion expects the transaction to close later this year prior to the project commencing commercial operation. It says the project will qualify for the federal investment tax credit (ITC).
Dominion has a 20-year commitment to sell all power from the future central-California facility facility, but did not name the buyer.
"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," David A. Christian, chief executive for Dominion Generation, says in a statement.
In April, Dominion announced the purchase of six other solar projects in California, totaling 139MW. Those projects are currently under construction and are expected to be operational by late 2014.