Dominion to Invest $700 Million for 400 Megawatts of Solar Power

(Bloomberg) — Dominion Resources Inc., the third-largest
U.S. utility owner, is investing $700 million to build 400
megawatts of solar capacity in Virginia.

Dominion’s Virginia Power unit expects the projects to
begin generating electricity by 2020, the Richmond, Virginia-based company said Thursday in a statement. The solar farms will
produce enough energy for about 100,000 homes.

Dominion has 744 megawatts of solar capacity in operation,
development or under construction, according to the statement.

Almost 9,800 megawatts may be installed in the U.S. this
year, a figure that may rise to more than 12,000 megawatts in
2016, according to data compiled by Bloomberg New Energy

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

To contact the reporter on this story:
Justin Doom in New York at

To contact the editors responsible for this story:
Will Wade at
Robin Saponar

About BloombergNEF

BloombergNEF (BNEF), Bloomberg’s primary research service, covers clean energy, advanced transport, digital industry, innovative materials and commodities. We help corporate strategy, finance and policy professionals navigate change and generate opportunities.

Available online, on mobile and on the Terminal, BNEF is powered by Bloomberg’s global network of 19,000 employees in 176 locations, reporting 5,000 news stories a day.
Sign up for our free weekly newsletter →

Want to learn how we help our clients put it all together? Contact us