Projects exceed 800 megawatts, enough clean energy to power 200,000 Virginia homes
Customers will see more than $250 million in fuel savings in first 10 years of operation
RICHMOND, Va., April 14, 2023 /PRNewswire/ -- The Virginia State Corporation Commission (SCC) approved today nearly two dozen new solar and energy storage projects to help meet the growing needs of Dominion Energy Virginia customers.
Once in operation, the projects will generate more than 800 megawatts (MW) of carbon-free electricity, enough to power about 200,000 Virginia homes at peak output. Because renewable energy does not require fuel, the projects are expected to deliver more than $250 million in fuel savings for customers during their first 10 years of operation.
"This is another big step forward in delivering reliable, affordable and cleaner energy to our customers," said Ed Baine, President of Dominion Energy Virginia. "These projects will bring jobs and economic opportunity to our communities, and they will deliver fuel savings for our customers. That's a win-win for Virginia."
The SCC approval includes nine solar projects and one energy storage project – totaling nearly 500 MW – that will be owned and operated by Dominion Energy Virginia. Two of the projects – Kings Creek Solar and Ivy Landfill Solar – will be built on previously developed land. Ivy Landfill Solar will be the company's first solar project developed on a former landfill.
The SCC also approved power purchase agreements (PPAs) with 13 solar and energy storage projects – totaling more than 300 MW – that are owned by independent developers.
Construction of the projects is projected to support thousands of jobs and more than $920 million in economic benefits across Virginia. Additional details about the utility-owned projects are below:
Ivy Landfill Solar
King's Creek Solar
Moon Corner Solar
North Ridge Solar
James City County
Southern Virginia Solar
The SCC's approval today will add approximately $0.38 to the average residential customer's monthly bill, with construction of the fuel cost-free renewable projects expected to be complete by 2025. Dominion Energy Virginia's rates remain below the national, mid-Atlantic and east coast averages.
About Dominion Energy
About 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 safely providing reliable, affordable and sustainable energy and to achieving Net Zero emissions by 2050. Please visit DominionEnergy.com to learn more.
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SOURCE Dominion Energy