Dominion Energy (NYSE:D) -0.6% in Wednesday’s trading as it proposed more than a dozen new solar projects in Virginia, which if approved will generate 772 MW of carbon-free electricity, enough to power ~200K Virginia homes at peak output.
The company said its proposal includes six solar projects totaling 337 MW that will be owned or acquired by Dominion Energy Virginia (D), and 13 power purchase agreements totaling 435 MW with independently owned solar projects.
If approved, the company will surpass 4,600 MW of solar in Virginia, enough to power more than 1.1M homes at peak output.
Dominion (D) estimated the cost of the projects would add $1.54 to the average residential customer’s monthly bill.
The company’s initial project, Coastal Virginia Offshore Wind, completed its final environmental impact review last week and is on track to receive final approval from U.S. regulators by the end of this month, offshore wind VP Joshua Bennett told Bloomberg, adding offshore construction would begin in Q2 2024.