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Dominion Acquires Two Largest Solar Projects In Tennessee

Stocks in this article: D

RICHMOND, Va., May 7, 2014 /PRNewswire/ -- Dominion (NYSE:D), one of the nation's largest energy providers, has acquired two stand-alone solar energy developments in southwest Tennessee. Commercial operation is slated for the fourth quarter of this year.

The two projects are currently in late stage development by Strata Solar of Chapel Hill, N.C.  All power and environmental attributes from both projects will be purchased by the Tennessee Valley Authority (TVA) under their renewable standard offer program.  Interconnection to the electric grid will take place through facilities owned and operated by Pickwick Electric Cooperative of Selmer, TN.

"This is another important addition to Dominion's growing portfolio of solar energy," said David A. Christian, chief executive officer for Dominion Generation. "We believe it is necessary to develop and maintain a diverse generation mix, ranging from traditional sources to renewable energy. These two projects strategically align with our regulated and unregulated generation portfolio.  We are pleased to team up with TVA on the largest solar developments in Tennessee."

Each of the two stand-alone, fixed-tilt photovoltaic solar projects, named Mulberry Farm and Selmer Farm, will produce approximately 16 megawatts (AC). They are located in McNairy County, near the town of Selmer. The necessary land has been acquired and no additional permits are needed to start construction.  Construction is expected to start shortly, with both projects expected to achieve commercial operation by the end of the year.

Engineering, procurement and construction will continue to be handled by Strata Solar under the terms of the agreement. Once the projects are operational, ongoing operations and maintenance will also be handled by Strata Solar.

The acquisitions bring Dominion's total solar generating portfolio to 212 megawatts. Along with the Tennessee projects, the company has 41 megawatts of solar energy facilities operating at sites in Georgia, Connecticut and Indiana, and an additional 139 megawatts are under construction in California.  The company also has various projects under development in Virginia as part of its Solar Partnership Program.

Dominion is one of the nation's largest producers and transporters of energy, with a portfolio of approximately 23,600 megawatts of generation, 10,900 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 utility and retail energy customers in 10 states. For more information about Dominion, visit www.dom.com.

About Strata Solar, LLC.  Strata Solar is a national leader of utility scale solar energy systems and installations. Strata's unique, low impact, standardized approach to solar farm creation is supported through its vertical divisions which offer complete turnkey services for the design, construction and installation of utility and commercial photovoltaic systems. Strata also offers a full array of development, engineering, procurement, construction, operation and maintenance services to companies interested in clean renewable energy. Strata is headquartered in Chapel Hill, North Carolina with expansive O&M facilities nearby. For more information please visit  www.StrataSolar.com.

About Tennessee Valley AuthorityThe Tennessee Valley Authority www.tva.gov is a corporate agency of the United States that provides electricity for business customers and local power distributors serving 9 million people in parts of seven southeastern states. TVA receives no taxpayer funding, deriving virtually all of its revenues from sales of electricity. In addition to operating and investing its revenues in its electric system, TVA provides flood control, navigation and land management for the Tennessee River system and assists local power companies and state and local governments with economic development and job creation.



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