May 7 (Bloomberg) -- Dominion Resources Inc., the third-largest U.S. utility owner, acquired 32 megawatts of solar capacity in southwest Tennessee.
The Mulberry Farm and Selmer Farm projects, developed by closely held Strata Solar LLC, are expected to begin generating power in the fourth quarter, Richmond, Virginia-based Dominion said in a statement today. Terms of the sale weren’t disclosed.
The Tennessee Valley Authority has agreed to buy electricity from the pair of 16-megawatt projects in McNairy County under a long-term contract.
With the deal, Dominion has 212 megawatts of solar capacity, with 41 megawatts in operation in Georgia, Connecticut and Indiana, and 139 megawatts under construction in California, according to the statement.
Duke Energy Corp. and NextEra Energy Inc. are the largest U.S. utility owners by market value.
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