Dominion Energy Acquires Solar Energy Project in Ohio from Invenergy

Rhea-AI Summary

Dominion Energy (NYSE: D) has acquired a 150-megawatt solar facility in Hardin County, Ohio, from Invenergy. This marks Dominion's first solar investment in Ohio, with plans to enhance its clean energy portfolio. The solar power generated will be contracted to Facebook under a long-term agreement. With over 2,200 megawatts of solar capacity operational and an additional 3,500 megawatts in development, Dominion aims for net-zero emissions by 2050. The acquisition strengthens Dominion's partnership with Invenergy and aligns with corporate sustainability goals.

Positive

• First solar energy investment in Ohio expands clean energy portfolio.
• Long-term contract with Facebook supports renewable energy initiatives.
• Demonstrates strong partnership with Invenergy, enhancing operational expertise.

Negative

• None.

RICHMOND, Va., Jan. 19, 2021 /PRNewswire/ -- Dominion Energy (NYSE: D) announced today that one of its subsidiaries has acquired the 150-megawatt (AC) Hardin solar generating facility, which recently entered service in Hardin County, Ohio, from Chicago-based Invenergy.  

Facebook will take the electricity generated at the facility as well as the renewable energy credits, under a long-term agreement signed prior to the project's construction.

"With this solar project, Dominion Energy is expanding our solar generating portfolio into Ohio, where we have a deep history of serving our customers and communities through our local distribution business," said Diane Leopold, executive vice president and chief operating officer. "We continue to acquire and/or develop clean energy projects for companies like Facebook that are looking to reduce their carbon footprints and to contribute to combating climate change. And we are proud to build on our Invenergy partnership that has already produced nearly 100 megawatts of solar generating capacity elsewhere."

This marks Dominion Energy's first solar energy investment in Ohio, where the company owns and operates a Cleveland-based natural gas local distribution company serving 1.2 million customer accounts in, principally, northeastern Ohio. Dominion owns solar arrays in nine other states, including in North Carolina, South Carolina and Utah, where the company also owns and operates gas utilities.

Dominion Energy closed on the acquisition in 2020, and construction activities were completed in December.

"Invenergy is proud to further our partnerships with both Dominion Energy and Facebook, which reflect our commitment to sustainability that carries across our work with utilities and corporate renewable energy purchasers alike," said Ted Romaine, senior vice president of Origination at Invenergy. "Invenergy Services will also bring our award-winning operations and maintenance expertise to the project."

"We are thrilled to partner with Dominion and Invenergy to bring an additional 150 megawatts of new solar energy to the grid," said Urvi Parekh, head of Renewable Energy at Facebook. "At Facebook, we are committed to not only supporting our operations with 100% renewable energy, but to helping accelerate the transition to renewable energy."

Dominion Energy has more than 2,200 megawatts of solar generating capacity in operation with nearly 3,500 megawatts of capacity in development. In 2020, S&P Global ranked Dominion Energy's solar portfolio third among utility holding companies in the U.S.

About Dominion Energy
More than 7 million customers in 16 states energize their homes and businesses with electricity or natural gas from Dominion Energy (NYSE: D), headquartered in Richmond, Va. The company is committed to sustainable, reliable, affordable and safe energy and to achieving net zero carbon dioxide and methane emissions from its power generation and gas infrastructure operations by 2050. Please visit DominionEnergy.com to learn more.

About Invenergy
We are innovators building a sustainable world. Invenergy and its affiliated companies develop, own, and operate large-scale sustainable energy generation and storage facilities in the Americas, Europe and Asia. Invenergy's home office is located in Chicago, and it has regional development offices in the United States, Canada, Mexico, Colombia, Japan, Poland and Scotland. Invenergy has successfully developed more than 27,000 megawatts of projects that are in operation, construction or contracted, including wind, solar, and natural gas power generation facilities as well as advanced energy storage projects. As a leading partner to commercial and industrial renewable energy customers, Invenergy has contracted more than 3,500 megawatts of wind and solar capacity to help more than 20 different corporate users across six U.S. markets and in Mexico to reach their sustainability and clean energy goals. For more information, please visit www.invenergy.com.

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SOURCE Dominion Energy

FAQ

What is the significance of Dominion Energy's acquisition of the Hardin solar facility?

This acquisition represents Dominion Energy's first entry into Ohio's solar market, expanding its clean energy portfolio.

What capacity does the Hardin solar facility generate?

The Hardin solar facility has a generation capacity of 150 megawatts.

Who will purchase the energy generated by the Hardin solar facility?

Facebook will purchase the electricity and renewable energy credits generated by the facility under a long-term agreement.

How does this acquisition impact Dominion Energy's sustainability goals?

The acquisition aligns with Dominion's commitment to achieve net-zero emissions by 2050 and supports corporate sustainability efforts.

When was the Hardin solar facility construction completed?

Construction of the Hardin solar facility was completed in December 2020.