Dominion Acquires Solar Project in North-Central Connecticut
RICHMOND, Va., Oct. 22, 2013
RICHMOND, Va., Oct. 22, 2013 /PRNewswire/ --Dominion (NYSE: D) has acquired a
solar project in Somers, Ct., capable of producing approximately 5 megawatts
(AC) of electricity, from Kyocera (NYSE: KYO) in a deal that closed Oct. 22,
2013, for an undisclosed sum.
"Dominion looks forward to supplying solar energy to the people of
Connecticut, where we already provide carbon-free nuclear energy from our
Millstone Power Station," said David Christian, CEO of Dominion Generation.
"The Somers project joins a growing list of renewable projects that Dominion
has announced or brought online this year as we maintain our focus on
providing a mix of affordable, clean and reliable power."
"The State of Connecticut has put renewable energy at the forefront of our
Comprehensive Energy Strategy, which has led to cheaper, cleaner, more
reliable energy for our families and businesses," Governor Dannel P. Malloy
said."Continued support of one of the largest solar installations in our
state by Dominion will ensure an overall commitment to closing the gap between
the cost of renewable energy and power generated from fossil fuels. I am
proud that Connecticut is home to this important solar installation."
Kyocera and CleanPath, a San Francisco-based clean-energy company, had jointly
developed the Somers project, which is expected to begin commercial operation
within the 4^th quarter of 2013.
The Somers Solar Center will use Kyocera Solar, Inc.'s, photovoltaic
technology to produce enough electricity to supply nearly 1,400 homes. The
electricity will go to Connecticut Light & Power Co. under a 20-year
"Kyocera modules can be counted on to continue yielding high energy output for
that duration and beyond, serving the Somers Solar Project and the people of
Connecticut well," said Steve Hill, president of Kyocera Solar Inc. "Kyocera
solar modules have a reputation of being some of the most efficient and
reliable in the industry."
Somers Solar Center is located on 90 leased acres in north-central
Connecticut, roughly 4 miles south of the Massachusetts state line. Prime
Solutions Inc., a Connecticut-based company, is the center's engineering and
construction contractor. The project provided about 80 jobs during the peak of
construction, most of which came from locally-owned companies. Once in
operation, the center will be serviced by a contractor.
This is Dominion's third announced large-scale solar project this year. In
February, the company reported that it had acquired a 7.7-megawatt (AC) solar
project, known as the Azalea Solar Power Facility, near Augusta in
east-central Georgia. In July, Dominion acquired three solar projects near
Indianapolis, Ind. – known as Indy I, II and III -- that will generate 28.6
megawatts (AC) of electricity.
Other renewable projects coming online this year include three former coal
stations in Virginia that are being converted to operate on biomass (waste
wood) and Dominion's Bridgeport Fuel Cell Project, also in Connecticut.
Dominion is one of the nation's largest producers and transporters of energy,
with a portfolio of approximately 23,500 megawatts of generation, 11,000 miles
of natural gas transmission, gathering and storage pipeline and 6,400 miles of
electric transmission lines. Dominion operates one of the nation's largest
natural gas storage systems with 947 billion cubic feet of storage capacity
and serves retail energy customers in 15 states. For more information about
Dominion, visit the company's website at www.dom.com.
Kyocera is one of the world's leading producers and suppliers of solar
photovoltaic modules and systems. With a 38-year history of innovation in
solar technology, the company is recognized as an industry pioneer and has set
repeated world records in multi-crystalline silicon cell efficiency. Kyocera
serves thousands of residential and industrial customers in both developed and
developing regions, with more than 3 gigawatts of solar collection equipment
installed since 1975. Kyocera Solar, Inc. is headquartered in Scottsdale,
Arizona with regional sales affiliates in the Americas and Australia. For more
information please visit the website at www.kyocerasolar.com.
CleanPath LLC is one of a line of renewable energy project development and
finance platforms that have been founded by its CEO, Matt Cheney.CleanPath's
team has finance over $500 million in solar PV projects over the past decade,
including work accomplished with Nuon, MMA Renewable Ventures and Fotowatio
Renewable Ventures.CleanPath's focus is the "last mile" of project
development, often in partnership with others, carrying the projects up
through mid- to end-stage development, through construction and into ownership
and operation.The Somers Center project is a good example of the work it
does, delivering high quality renewable energy projects in the U.S and
abroad.For more information please visit the website at www.cleanpath.com.
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SOURCE Dominion Resources, Inc.
Contact: Greg Edwards, (276) 762-2618, (804) 771-6115,
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