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SOURCE Dominion Resources, Inc.
RICHMOND, Va., Oct. 22, 2013 /PRNewswire/ -- Dominion (NYSE: D) has acquired a solar project in Somers, Ct., capable of producing approximately 5 megawatts (AC) of electricity, from Kyocera (NYSE: KYO) in a deal that closed Oct. 22, 2013, for an undisclosed sum.
"Dominion looks forward to supplying solar energy to the people of Connecticut, where we already provide carbon-free nuclear energy from our Millstone Power Station," said David Christian, CEO of Dominion Generation. "The Somers project joins a growing list of renewable projects that Dominion has announced or brought online this year as we maintain our focus on providing a mix of affordable, clean and reliable power."
"The State of Connecticut has put renewable energy at the forefront of our Comprehensive Energy Strategy, which has led to cheaper, cleaner, more reliable energy for our families and businesses," Governor Dannel P. Malloy said. "Continued support of one of the largest solar installations in our state by Dominion will ensure an overall commitment to closing the gap between the cost of renewable energy and power generated from fossil fuels. I am proud that Connecticut is home to this important solar installation."
Kyocera and CleanPath, a San Francisco-based clean-energy company, had jointly developed the Somers project, which is expected to begin commercial operation within the 4th quarter of 2013.
The Somers Solar Center will use Kyocera Solar, Inc.'s, photovoltaic technology to produce enough electricity to supply nearly 1,400 homes. The electricity will go to Connecticut Light & Power Co. under a 20-year purchased-power agreement.
"Kyocera modules can be counted on to continue yielding high energy output for that duration and beyond, serving the Somers Solar Project and the people of Connecticut well," said Steve Hill, president of Kyocera Solar Inc. "Kyocera solar modules have a reputation of being some of the most efficient and reliable in the industry."
Somers Solar Center is located on 90 leased acres in north-central Connecticut, roughly 4 miles south of the Massachusetts state line. Prime Solutions Inc., a Connecticut-based company, is the center's engineering and construction contractor. The project provided about 80 jobs during the peak of construction, most of which came from locally-owned companies. Once in operation, the center will be serviced by a contractor.
This is Dominion's third announced large-scale solar project this year. In February, the company reported that it had acquired a 7.7-megawatt (AC) solar project, known as the Azalea Solar Power Facility, near Augusta in east-central Georgia. In July, Dominion acquired three solar projects near Indianapolis, Ind. – known as Indy I, II and III -- that will generate 28.6 megawatts (AC) of electricity.
Other renewable projects coming online this year include three former coal stations in Virginia that are being converted to operate on biomass (waste wood) and Dominion's Bridgeport Fuel Cell Project, also in Connecticut.
Dominion is one of the nation's largest producers and transporters of energy, with a portfolio of approximately 23,500 megawatts of generation, 11,000 miles of natural gas transmission, gathering and storage pipeline and 6,400 miles of electric transmission lines. Dominion operates one of the nation's largest natural gas storage systems with 947 billion cubic feet of storage capacity and serves retail energy customers in 15 states. For more information about Dominion, visit the company's website at www.dom.com.
Kyocera is one of the world's leading producers and suppliers of solar photovoltaic modules and systems. With a 38-year history of innovation in solar technology, the company is recognized as an industry pioneer and has set repeated world records in multi-crystalline silicon cell efficiency. Kyocera serves thousands of residential and industrial customers in both developed and developing regions, with more than 3 gigawatts of solar collection equipment installed since 1975. Kyocera Solar, Inc. is headquartered in Scottsdale, Arizona with regional sales affiliates in the Americas and Australia. For more information please visit the website at www.kyocerasolar.com.
CleanPath LLC is one of a line of renewable energy project development and finance platforms that have been founded by its CEO, Matt Cheney. CleanPath's team has finance over $500 million in solar PV projects over the past decade, including work accomplished with Nuon, MMA Renewable Ventures and Fotowatio Renewable Ventures. CleanPath's focus is the "last mile" of project development, often in partnership with others, carrying the projects up through mid- to end-stage development, through construction and into ownership and operation. The Somers Center project is a good example of the work it does, delivering high quality renewable energy projects in the U.S and abroad. For more information please visit the website at www.cleanpath.com.
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