Dominion plans to buy two solar energy projects totaling 42 MW from EDF Renewable Energy, one of North America's largest independent power producers and renewable energy project developers. The acquisitions of the California projects are expected to close in 2015.
The Cottonwood renewable energy project, with solar power sites located in Kings, Kern and Marin Counties, has secured a 25-year power purchase agreement (PPA), interconnection agreements and engineering, procurement, construction (EPC) contracts. The company anticipates that the 24 MW solar energy facility will come online in the first half of 2015.
The Catalina Solar 2 project, located in Kern County, has secured a 20-year PPA, an interconnection agreement and an EPC contract. The 18 MW solar energy facility is expected to enter service in the second quarter of 2015.
The Cottonwood and Catalina Solar 2 projects are expected to qualify for the federal Investment Tax Credit.
Earlier in 2014, Dominion announced agreements to purchase solar energy projects totaling 159 MW in California, including the 20 MW CID solar energy project from EDF Renewable Energy. All of these projects are under construction and are expected to be operational by late 2014.
With the anticipated addition of Cottonwood and Catalina Solar 2, Dominion's total contracted solar generating portfolio would consist of 274 MW. The company has developed or is developing utility-scale solar energy facilities in California, Connecticut, Georgia, Indiana and Tennessee.
Additionally, in Virginia, the company's Dominion Virginia Power electric utility is implementing the Solar Partnership Program. Under that program, Dominion will construct and operate up to 30 MW of company-owned solar facilities on leased rooftops or on the grounds of commercial businesses and public properties throughout the Virginia service area.