Dominion Building Solar Farm on Land Leased From Philip Morris

Dominion Resources Inc., the third-largest U.S. utility owner, is building the biggest solar farm in Virginia on land leased from Philip Morris International Inc.

The 2.45-megawatt, 8,000-panel project in Chester, Virginia, is part of a program in which Dominion leases land or rooftops for solar installations, the company said Wednesday in a statement. Financial terms weren’t disclosed.

“This initiative is another step toward fulfilling Dominion’s commitment to substantially increase our solar generation portfolio in the commonwealth,” Ken Barker, Dominion’s vice president of technical solutions, said in the statement.

The project will generate enough electricity to power about 500 homes. Richmond, Virginia-based Dominion said last month it plans to build 400 megawatts of solar capacity in the state. The company has 744 megawatts in operation, development or under construction.

Companies including Southern Co. and Duke Energy Corp. last year asked developers to propose 900 megawatts of solar capacity in the U.S. Southeast, one of the nation’s fastest-growing photovoltaic markets, according to Bloomberg New Energy Finance.

Duke and NextEra Energy Inc. are the largest U.S. utility owners by market value.

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