Virginia authorities have approved Dominion Energy Inc’s plans to add 764 MW of solar generating capacity to its fleet in the state through new installations, acquisitions, and off-take partnerships. Dominion has been given permission by the Virginia State Corporation Commission (SCC) to execute 13 power purchase agreements (PPAs) for 435 MW of independently owned projects. Contracts will be signed for projects chosen through a competitive process.
Dominion’s next step after receiving SCC approval is to seek municipal and state permissions before beginning construction. Approximately 1,600 employment will be supported by the projects’ construction, which will also assist Virginia’s economy to the tune of approximately $570 million.
By 2026, Dominion plans to have the capacity operational. Based on their projections, the average residential customer’s monthly bill will increase by approximately $1.54 due to the expense of the initiatives. The plan will increase the Dominion’s asset base by more than a dozen projects and, at full output, provide electricity to over 200,000 residences. The utility will have 4.6 GW of solar PV assets operating in Virginia when they come online.
REGlobal’s Views: Dominion Energy has a target to achieve net zero emissions by 2050. These new solar projects will help the company to increase its clean energy portfolio. The company has been moving swiftly to increase its renewable energy capacity and also got an approval last year to build two dozen new solar and energy storage projects with a capacity of more than 800 MW.
