Dominion Resources Inc., the third-largest U.S. utility owner, bought a 20-megawatt solar farm in Southern California from EON SE for an undisclosed sum.
The Alamo Solar project in San Bernardino County is expected to begin producing electricity this quarter, Richmond, Virginia-based Dominion said Friday in a statement. The power plant has a 20-year power-purchase agreement with an undisclosed buyer and is expected to qualify for the federal investment tax credit.
Dominion now has 384 megawatts of solar capacity in operation or under construction, including 241 megawatts in California.
Duke Energy Corp. and NextEra Energy Inc. are the largest U.S. utility owners by market value.