Dominion acquires three solar power projects in Indiana

Source:Dominion

Dominion has acquired three solar-power development projects near Indianapolis, Ind., from Sunrise Energy Ventures.Dominion (NYSE: D) has acquired three solar-power development projects near Indianapolis, Ind., from Sunrise Energy Ventures.

Expected to be in service before the end of 2013, the projects will use standard photovoltaic technology with a fixed-axis system to generate a peak combined output of 28.6 megawatts of electricity.

"Dominion has been adding renewable energy to its diversified generation mix and is very pleased to acquire these three solar projects," said David Christian, Dominion Generation CEO. "These projects are consistent with Dominion's promotion of a portfolio of efficient conventional, nuclear and renewable resources."

The three projects are known as Indy Solar I, Indy Solar II and Indy Solar III. Two of the projects, located southeast of Indianapolis in Franklin Township, will be sited on 155 acres. The third, located southwest of Indianapolis, will be sited on 134 acres. All three projects are on flat agricultural and forest land that are well suited for solar installation. The purchase price is confidential.

The projects have 15-year power purchase agreements with Indianapolis Power and Light Company.

AMEC, an international engineering and construction firm with U.S. headquarters in Tucker, Ga., will build the three facilities.  AMEC is also building a 7.7 megawatt solar installation for Dominion near Augusta, Ga.

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