RICHMOND, Va., Dec. 29, 2014 /PRNewswire/ -- Dominion (NYSE: D) has closed on the acquisition of the CID Solar Project near Corcoran, Calif., in King's County, from EDF Renewable Energy. The companies announced the purchase and sale agreement in June 2014. The 20-megawatt (ac) facility completed the conditions of the acquisition and closed on Dec. 11, 2014. It commenced operations on December 22. The project provides power to the San Francisco-based electric utility Pacific Gas and Electric Company (PG&E) under a 20-year power purchase agreement.
Terms of the CID transaction are not available.
Dominion is one of the nation's largest producers and transporters of energy, with a portfolio of approximately 24,900 megawatts of generation, 10,900 miles of natural gas transmission, gathering and storage pipeline and 6,400 miles of electric transmission lines. Dominion operates one of the nation's largest natural gas storage systems with 947 billion cubic feet of storage capacity and serves utility and retail energy customers in 10 states. The company, through Dominion Solar Holdings, has 345 megawatts of solar generating capacity under development or in operation in California, Connecticut, Georgia, Indiana, Tennessee and Utah. For more information about Dominion, visit the company's website at www.dom.com.
About EDF Renewable Energy
EDF Renewable Energy is a leading U.S. independent power producer with more than 25 years of expertise in the renewable industry, covering all range of services from project development, management to operations and maintenance. EDF Renewable Energy specializes in wind and solar photovoltaic with presence in other segments of the renewable energy market: biogas, biomass, hydro, marine energy and storage solutions. The company develops, constructs, operates and manages renewable energy projects throughout the United States for its own accord as well as for third parties. EDF Renewable Energy's portfolio consists of 5 gigawatts of developed projects with 2.2 gigawatts of installed capacity. EDF Renewable Energy is the U.S. subsidiary of EDF Energies Nouvelles. EDF Energies Nouvelles is the renewable energy arm of the EDF group, the leading electricity company in the world. For more information visit: www.edf-re.com.
For further information: Media (Dominion): Ryan Frazier, (804) 819-2521 or C.Ryan.Frazier@dom.com; Media (EDF RE): Sandi Briner, (858) 521-3525 or Sandi.Briner@edf-re.com; Financial analysts (Dominion): Kristy Babcock, (804) 819-2492 or Kristy.R.Babcock@dom.com