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Dominion Resources, Inc. Buys Tennessee's 2 Largest Solar Projects

Dominion Resources  (NYSE: D  ) announced today that it has acquired the two largest solar projects in Tennessee that, when completed, will churn out a collective 32 MW of renewable energy.

The two projects are expected to be completed in Q4 2014, at which time all their generated electricity (and renewable energy credits) will head to the Tennessee Valley Authority (TVA) via a long-term power purchase agreement (PPA). 

"This is another important addition to Dominion's growing portfolio of solar energy," said David Christian, CEO for Dominion Generation, in today's press release. "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."

The two stand-alone, fixed-tilt photovoltaic solar projects, named Mulberry Farm andSelmer Farm, are located in McNairy County, near the town of Selmer. Engineering, procurement, and construction will continue to be handled by Strata Solar of Chapel Hill, N.C.

These latest acquisitions bring Dominion Resources' total solar portfolio to 212 MW, 139 MW of which are currently under construction in California. The utility's total generation portfolio clocks in at around 23,600 MW. 

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