Dominion Energy Commits $35 Million to Initiative Supporting Historically Black Colleges and Universities, Minority Student Scholarships

Rhea-AI Summary

Dominion Energy (NYSE: D) has announced a $35 million initiative aimed at supporting African American and underrepresented minority students. This six-year program will focus on historically black colleges and universities in Virginia, Ohio, North Carolina, and South Carolina. Furthermore, a $10 million scholarship fund will be established to assist students across the company's service area. This initiative builds on nearly 40 years of support for educational equity and follows a recent $5 million commitment for social justice efforts.

Positive

• $35 million initiative supporting African American and underrepresented minority students.
• $10 million scholarship fund for students across the service territory.
• Continued commitment to higher education equity over nearly four decades.

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• None.

RICHMOND, Va., July 16, 2020 /PRNewswire/ -- Dominion Energy (NYSE: D) is launching a $35 million initiative in support of African American and underrepresented minority students. This six-year program will support historically black colleges and universities in Virginia, Ohio, North Carolina and South Carolina. Additionally, as part of the initiative, a $10 million scholarship fund will be created to support African American and underrepresented minority students across the company's service territory.

Said Thomas F. Farrell, II, the company's chairman, president and chief executive officer: 

"We all know there are no actions or words that will immediately heal the hurt caused by 400 years of institutional racism. But since early June, we have seen signs of change and growth. Our country is moving forward. We are moving forward, too. This initiative is a recognition of the important role played by these institutions in African American advancement and the importance of education as an equalizer in society. These institutions have been foundational in the struggle to improve the lives of African Americans and in the fight for social justice. We are pleased and humbled to build on our company's nearly 40-year history of supporting historically black colleges and universities."

Additional details about the institutions to be supported and the new Dominion Energy Educational Equity scholarship fund will be provided in the coming days. 

The initiative builds on nearly four decades of support for higher education equity, including volunteer efforts and financial contributions provided to historically black colleges and universities in our service territory.

This new program is in addition to a recent $5 million commitment made by Dominion Energy and the company's charitable foundation to support social justice, community reconciliation and rebuilding.

About Dominion Energy
More than 7 million customers in 20 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 is one of the nation's largest producers and transporters of energy with more than $100 billion of assets providing electric generation, transmission and distribution, as well as natural gas storage, transmission, distribution and import/export services. The company is committed 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.

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SOURCE Dominion Energy

FAQ

What is Dominion Energy's $35 million initiative about?

It aims to support African American and underrepresented minority students, focusing on historically black colleges and universities.

When was the $35 million initiative by Dominion Energy announced?

It was announced on July 16, 2020.

Where will the funds from Dominion Energy's initiative be allocated?

The funds will support institutions in Virginia, Ohio, North Carolina, and South Carolina.

What is the purpose of the new scholarship fund created by Dominion Energy?

The $10 million scholarship fund aims to assist African American and underrepresented minority students in the company's service territory.