Dominion Resources Buys Three Indiana Solar Projects

July 22 (Bloomberg) -- Dominion Resources Inc., 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.

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