Dominion has agreed to buy two solar projects in California from EDF Renewable Energy, bringing the energy producer and transporter’s total long-term contracted solar portfolio to 274 megawatts in operation or under construction.
EDF Renewable Energy is one of the largest independent power producers and renewable energy project developer in North America, and the acquisitions of its Californian projects are expected to close next year, Dominion said in a statement.
The purchase agreement comes after Dominion announced similar agreements early this year to purchase solar projects that total 159 megawatts in California, including the 20-megawatt CID solar project from EDF Renewable Energy. All these projects are under construction and are expected to be operational by late 2014.
“These planned acquisitions would increase our renewable energy generation and align with our portfolio of regulated and long-term contracted assets. We are working to identify additional solar projects to boost Dominion's renewable energy portfolio and support our long-term growth plan,” said David A. Christian, chief executive officer of Dominion Generation.
The Cottonwood project with solar sites in Kings, Kern and Marin Counties, has secured a 25-year power purchase agreement (PPA), interconnection agreements and engineering, procurement, construction (EPC) contracts. The 24-megawatt solar facility is expected to come online in the first half of next year, the statement said.
The Catalina Solar 2 project in Kern County has secured a 20-year PPA, an interconnection agreement and an EPC contract. The 18-megawatt solar energy facility is expected to enter service in the second quarter of 2015.
The Cottonwood and Catalina Solar 2 projects are expected to qualify for the federal Investment Tax Credit, the statement added.
Dominion has developed utility-scale solar facilities in California, Connecticut, Georgia, Indiana and Tennessee.