Nov. 10 (Bloomberg) — Dominion Resources Inc., the third-largest U.S. utility owner, is buying a 50-megawatt power plant
in Utah from Juwi Solar Inc.
The Pavant Solar project in Millard County is Dominion’s
first in the state, and is expected to begin producing power in
the second half of next year, the Richmond, Virginia-based
company said today in a statement. Terms of the sale weren’t
Juwi Solar, based in Boulder, Colorado, will build the
power plant and maintain it “during the initial years of
operation,” according to the statement. The project has a 20-year power-purchase and interconnection agreement with a buyer
that Dominion didn’t identify.
With the deal, Dominion has 324 megawatts of solar capacity
under development or in operation. The company also owns about
850 megawatts of renewable-energy capacity from wind, hydropower
Duke Energy Corp. and NextEra Energy Inc. are the largest
U.S. utility owners by market value.
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Reed Landberg at
Will Wade, Jim Efstathiou Jr.