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Dominion Resources Buys Three Indiana Solar Projects

Dominion Resources Inc. (D), the owner of Virginia’s largest utility, bought three solar projects under construction in Indiana with 28.6 megawatts of capacity that will increase the amount of energy produced from sunlight in the state more than fivefold.

The company bought the Indy Solar I, Indy Solar II and Indy Solar III projects from developer Sunrise Energy Ventures LLC and will sell electricity to AES Corp.’s Indianapolis Power & Light under a 15-year contract, Richmond, Virginia-based Dominion said today in a statement. Financial terms weren’t disclosed.

Indiana has less than 7 megawatts of solar capacity installed, according to data compiled by Bloomberg and the U.S. Energy Department’s National Renewable Energy Laboratory.

The plants south of Indianapolis will begin producing power this year.

To contact the reporter on this story: Ehren Goossens in New York at egoossens1@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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