Dominion Energy, Inc. - D STOCK NEWS

Dominion Energy has announced three grants amounting to $200,000 as part of its 'We Care Rebuild Project.' The donations will support significant community organizations in Northeast Ohio, including the Urban League of Greater Cleveland, EDWINS Leadership Restaurant Institute, and the Women of Color Foundation. The Urban League will receive $100,000 for a Social Justice and Civil Rights Institute, while EDWINS and Women of Color Foundation will receive $50,000 each for their respective culinary training and leadership initiatives.

Dominion Energy has submitted a Construction and Operations Plan (COP) to the Bureau of Ocean Energy Management (BOEM) for the Coastal Virginia Offshore Wind (CVOW) project, the largest planned offshore wind farm in the U.S. This 2,640-megawatt project aims to power up to 660,000 homes upon completion in 2026. The COP includes environmental safeguards and anticipates creating around 900 jobs during construction and 1,100 jobs post-operation, contributing $143 million and $210 million annually to the economy, respectively. Construction is set to begin in 2024.

Dominion Energy has achieved a significant milestone in offshore wind development with the keel laying of the first Jones Act compliant wind turbine installation vessel at Keppel AmFELS in Texas. This vessel, pivotal for U.S. offshore wind capacity, will support the installation of over 5 gigawatts of wind energy along the U.S. East Coast by 2027. The project will create nearly 700 jobs and uses over 14,000 tons of domestic steel. Estimated project costs are around $500 million, funded through lease financing, with no impact on customer bills. This initiative aligns with Dominion's clean energy goals and economic development efforts.

Dominion Energy's board has approved a 2021 dividend of $2.52 per share, with the first quarterly payment of 63 cents expected in March 2021. The company anticipates annual dividend-per-share growth of 6 percent starting in 2022. Serving over 7 million customers across 16 states, Dominion is committed to reducing its carbon footprint, aiming for net-zero emissions by 2050. All dividend payments are subject to quarterly board review.

Dominion Energy, in partnership with BrightSuite Solar and Sun Tribe, is installing solar panels at 21 schools in Virginia, generating over 11 megawatts of energy at peak output. This initiative allows schools to reduce their carbon footprints while saving on utility bills through net metering. Under power purchase agreements, schools incur no upfront costs and ensure long-term savings. This project aligns with Dominion's commitment to sustainability, aiming for net zero emissions by 2050.

Dominion Energy (NYSE:D) and Smithfield Foods have successfully completed their first renewable natural gas (RNG) project in Milford, Utah, marking a significant milestone in sustainable energy. This initiative captures methane from hog farms, converting it into clean energy. At full capacity, the project will heat over 3,000 homes and reduce greenhouse gas emissions by more than 100,000 metric tons annually. The companies aim to invest $500 million over the next decade to further develop RNG projects, targeting a reduction of 2.5 million metric tons of emissions from U.S. hog farms.

Dominion Energy and Smithfield Foods have launched a pioneering renewable natural gas (RNG) project in Utah, harnessing methane from 26 family-owned hog farms. This initiative captures significantly more greenhouse gas emissions than are released, rendering the RNG a carbon-beneficial energy source. At full capacity, it will provide enough RNG to heat over 3,000 homes and reduce emissions by over 100,000 metric tons annually. The partners are investing $500 million over the next decade to expand RNG projects nationwide, aiming to slash emissions from U.S. hog farms by 2.5 million metric tons.

Central State University in Wilberforce, Ohio, is set to enhance its summer internship programs, virtual learning access, and scholarship funds following a $500,000 grant from Dominion Energy. This funding is part of Dominion's six-year HBCU Promise initiative, which supports historically black colleges and universities. The grant will enable the launch of a 12-week Dominion Energy Summer Institute, providing students with valuable internships and educational opportunities. Additionally, it will seed a scholarship endowment and improve IT infrastructure to support hundreds of students.

On December 9, 2020, Dominion Energy announced a $500,000 donation to Wilberforce University, supporting STEM education and student success. This gift is part of Dominion's broader $25 million initiative aimed at enhancing educational resources at HBCUs in Virginia, Ohio, South Carolina, and North Carolina. The funding will finance scholarships, the inaugural Bayard Rustin Lecture Series, and provide laptops for all students and faculty. Additionally, Dominion has committed $10 million in scholarships for minority students.