Dominion Energy Acquires Virginia Solar Facility; Plans to Purchase Another

- Company closes on Clarke County solar array

- Northampton County project closing expected in third-quarter 2017

- Long-term power purchase agreements signed with Old Dominion Electric Cooperative

- Solar portfolio grows to more than 400 megawatts under development, in operation in Virginia

Jun 30, 2017

RICHMOND, Va., June 30, 2017 /PRNewswire/ -- Dominion Energy (NYSE: D) today announced that it has acquired Clarke County Solar, a 10-megawatt solar power facility in Clarke County, Va., from the project's developer, an affiliate of Chicago-based Hecate Energy, LLC. The company also announced plans to purchase a 20-megawatt solar farm under construction in Northampton County, Va. – also from developer Hecate Energy – in the third quarter of 2017.

 (PRNewsfoto/Dominion Energy)

With these additions, Dominion Energy's solar portfolio would include 25 facilities in 23 Virginia localities with about 409 megawatts of solar generating capacity, which can produce enough power to serve more than 100,000 typical homes and business around the state. Dominion Energy could also add at least 5,200 megawatts of solar in Virginia over the next 25 years to meet its customers' energy needs.

"Dominion Energy is pleased to aid in the expansion of solar power in the Commonwealth of Virginia," said Thomas F. Farrell, II, chairman, president and chief executive officer of Dominion Energy. "We see great promise in clean solar energy and believe it will be an ever-increasing portion of our company's fuel mix over the decades to come." 

Clarke County Solar, located on a 117-acre parcel of land in White Post, Va., has entered service, and was acquired by a subsidiary of Dominion Generation, Inc., a wholly owned subsidiary of Dominion Energy. That subsidiary also has agreed to purchase upon completion the Cherrydale facility on 180 acres in Kendall Grove, Va., in Northampton County on Virginia's Eastern Shore. That transaction is expected to close in the third quarter of 2017. Nearly 300 jobs have been created during peak construction of the Clarke County and Cherrydale projects. DEPCOM Power, Inc., has served as the engineering, procurement and construction contractor.

Long-term power purchase agreements for both projects are in place with Old Dominion Electric Cooperative (ODEC) for the offtake from these facilities.

"Entering into this agreement is evidence of our commitment to supporting the development and production of renewable energy resources," said Jack Reasor, president and CEO of ODEC. "We are dedicated to being both reliable power providers to our member-owners and responsible environmental stewards. ODEC and Dominion Energy have a very successful history of partnerships that we look forward to continuing with these projects."  

ODEC and Dominion Energy subsidiary Dominion Energy Virginia are partners in two other generating facilities in Virginia – North Anna Power Station and Clover Power Station.

Dominion Energy has more than 2,000 megawatts of solar generating capacity – including company-owned assets and assets that are contracted by Dominion Energy subsidiaries serving Dominion Energy customers – in operation or under development in nine states.

About Dominion Energy
Dominion Energy is one of the nation's largest producers and transporters of energy, with a portfolio of approximately 26,200 megawatts of generation, 15,000 miles of natural gas transmission, gathering and storage pipeline, and 6,600 miles of electric transmission lines. Dominion Energy operates one of the nation's largest natural gas storage systems with 1 trillion cubic feet of storage capacity and serves more than 6 million utility and retail energy customers. For more information about Dominion Energy, visit the company's website at www.DominionEnergy.com.

About Hecate Energy
Hecate Energy is a leading developer, owner and operator of power plants in North America and internationally. Hecate Energy brings together business acumen, technical understanding and significant experience in the industry to develop world-class power projects. The company specializes in solar and wind power, natural gas plants and energy storage, unearthing creative approaches to structuring PPAs and financing power projects both in the United States and abroad. Hecate Energy believes in collaborative, long-term partnerships with the communities, organizations and countries it serves.  www.hecateenergy.com

About ODEC
Headquartered in Glen Allen, Va., ODEC is a not-for-profit, member-owned, power supply cooperative. It supplies the wholesale power requirements of its 11 member electric distribution cooperatives, which provide reliable, affordable electricity to 1.4 million people in 70 counties in Maryland, Virginia and Delaware. Learn more at www.odec.com.  

SOURCE Dominion Energy

For further information: Media: Ryan Frazier, (804) 819-2521 or C.Ryan.Frazier@dominionenergy.com; Financial analysts: Kristy Babcock, (804) 819-2492 or Kristy.R.Babcock@dominionenergy.com


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