Dominion, BP Announce Plans to Evaluate Potential Wind Farms in Tazewell County, Wise County, Va.

(NYSE:D)
Jan 22, 2009
4:30pm

RICHMOND, Va., Jan. 22 /PRNewswire-FirstCall/ -- Dominion and BP Wind Energy North America Inc. announced today that they are evaluating wind energy projects in Tazewell County, Va. and Wise County, Va. These potential wind facilities represent the first projects announced since Dominion and BP said in April 2008 that they had entered into an agreement to jointly own, operate and develop wind energy projects in Virginia. Both projects would be subject to all applicable local, state and federal permits and approvals. 

The exact size of each project and scope of economic benefits have not been determined. 

Thomas F. Farrell II, Dominion's chairman, president and chief executive officer, said: "This is a small but important step for Virginia's nascent wind industry, an industry whose roots must grow stronger if the state is to achieve its renewable energy goals. Dominion is committed to increasing renewable generating capacity, and these projects would move us closer to fulfilling that commitment."

David Stoner, senior vice president, BP Wind Energy, said: "Several areas in the state of Virginia have reasonable wind resources and wind power is a key component of delivering a diverse and adequate energy supply for future generations of Americans. If wind power is developed in the right way, in the right places, it offers a very attractive option as part of the energy mix." 

These potential wind farms in Tazewell and Wise counties would be developed by Dominion's Virginia electric utility subsidiary and BP Wind Energy North America Inc. 

Earlier this month, Dominion's Virginia electric utility subsidiary and BP Wind Energy purchased about 2,560 acres of land in Tazewell County. 

In addition to the joint venture in Virginia, Dominion and BP are partners in 650 megawatts of the 750-megawatt Fowler Ridge Wind Farm in Benton County, Ind.

About Dominion:

Dominion is one of the nation's largest producers and transporters of energy, with a portfolio of approximately 27,000 megawatts of generation, 1.1 trillion cubic feet equivalent of proved natural gas and oil reserves, 14,000 miles of natural gas transmission, gathering and storage pipeline and 6,000 miles of electric transmission lines. Dominion operates the nation's largest natural gas storage facility with 975 billion cubic feet of storage capacity and serves retail energy customers in 12 states. 

Its renewable portfolio includes nearly 1,300 megawatts in various stages of development or in operation.

For more information about Dominion, visit the company's Web site at http://www.dom.com

About BP Wind Energy/BP America: 

BP Wind Energy is a wholly owned subsidiary of BP, one of the world's leading energy companies. BP Wind Energy is one of the leading wind developers in the U.S. with a wind portfolio that includes the opportunity to develop almost 100 projects and a potential total generating capacity of 20,000 megawatts (MW). BP Wind Energy has over 1,000 MW in or nearing commercial operation and more than 1,000 MW in an advanced stage of development. 

BP America is the largest producer of oil and gas in the United States and one of the nation's largest energy investors. For more information, visit the company's Web sites at http://www.bpalternativenergy.com and http://www.bp.com/us.

SOURCE: Dominion

Web site: http://www.dom.com/