Dominion Resources Inc., the third-largest U.S. utility owner, is buying 139 megawatts of solar capacity in California from Sharp Corp.’s Recurrent Energy, more than quadrupling its solar operations.
The six utility-scale projects will be in Fresno, Kern and Kings counties, and they all have long-term power-purchase agreements, Richmond, Virginia-based Dominion said in a statement today.
Dominion owns 41 megawatts of solar power spread among Georgia, Connecticut and Indiana, according to the statement. The California projects are expected to go into operation in late 2014 or early 2015. Terms of the sale weren’t disclosed.
Duke Energy Corp. and NextEra Energy Inc. are the largest U.S. utility owners by market value.