Dominion to Acquire Large-Scale Solar Energy Facility under Construction in North Carolina

Dominion is planning to expand its solar energy portfolio in North Carolina, and the Company expects to close on Anson County project upon completion in second-quarter 2017.

Dominion has announced that it plans to purchase a 79 MW solar energy facility under construction in Anson County, N.C., from Cypress Creek Renewables. A power purchase agreement is in place for the off-take from the solar energy facility.

“Dominion is pleased to expand its solar energy portfolio in North Carolina,” said Paul D. Koonce, president and chief executive officer of the Dominion Generation Group, which oversees 26,200 MW of electric generating capacity in 11 states. “The announcement aligns with our goal of adding carbon-free, cost-effective generation to our fleet.”

“We are thrilled to be working with Dominion on this project,” said Matthew McGovern, CEO of Cypress Creek Renewables. “Their growing renewable energy portfolio sets them apart from their peers and positions Dominion to continue its leadership role in the energy market of the future.”

The IS37 solar energy facility, located on a 550-acre tract of land near Morven, N.C., is being constructed by an affiliate of Cypress Creek Renewables. A subsidiary of Dominion Energy, Inc., a wholly owned subsidiary of Dominion, has agreed to acquire the facility upon completion, expected in the second quarter of 2017. About 450 workers are expected onsite during the peak of construction.

The company has 535 MW of solar generating capacity – or enough to power nearly 135,000 homes and businesses at times of peak use – under development or in operation in North Carolina and Virginia. Dominion’s North Carolina solar energy fleet also includes the 20 MW Morgans Corner array in Pasquotank County and the 60 MW Summit Farms facility in Currituck County.

PRNewswire