US solar developer Urban Grid has offloaded two upcoming solar projects in Virginia with a combined capacity of 240MW to Dominion Energy for an undisclosed price.
Image: Urban Grid sells two solar projects in Virginia to Dominion Energy. Photo: Courtesy of khunaspix/FreeDigitalPhotos.net.
The solar projects involved in the transaction, are the 142MW Colonial Trail West Solar and the 98MW Spring Grove Solar I, which will both be built in Surry County.
According to Urban Grid, the two new solar projects in Virginia will spread across around 2,950 acres of land and will produce enough electricity to meet the power consumption requirements of 60,000 homes.
The solar developer claims that the solar plants will together represent the largest contiguous solar project in Virginia, upon their completion.
Urban Grid estimates that the Colonial Trail West Solar and Spring Grove Solar I projects to take around two years for their completion. The two solar projects in Virginia are expected to create nearly 720 jobs.
Colonial Trail West Solar is slated to break ground in early 2018 with commercial operations likely to begin in December 2019. On the other hand, Spring Grove Solar I is expected to enter into commercial operation in October 2020.
The two solar projects in Virginia are expected to deliver direct and indirect economic benefits to the state of nearly $115.9m.
Urban Grid president Frank DePew said: “We are excited to have such a strong and proven owner of solar projects here in the Commonwealth of Virginia acquire these two exceptional solar projects from Urban Grid and are pleased to be able to assist Dominion Energy with achieving their renewable energy goals.
“Urban Grid would like to thank the many individuals that made these projects possible and would especially like to thank Surry County, Virginia for their support and cooperation throughout the development process.”
Founded in 2011, Urban Grid develops utility-scale solar projects in the Mid-Atlantic US. The company has completed the development of nearly 600MW of solar projects and currently has over 3,300MW of solar projects under development.
Last month, the company was issued a permit from the Virginia Department of Environmental Quality (DEQ) to construct and operate the 20MW Briel Farm Solar project in Henrico County in Virginia.