D - Dominion Energy to buy power from RWE solar farms in Virginia

2023-07-18 15:42:43 ET

German energy company RWE ( OTCPK:RWEOY ) said Tuesday it signed a series of power purchase agreements with Dominion Energy ( NYSE: D ) from seven utility-scale solar projects in Virginia totaling more than 300 MW, more than enough to power 70K homes; financial terms were not disclosed.

RWE ( OTCPK:RWEOY ) said two of the projects, the Pleasant Hill and Watlington projects, came online this year, while the remaining five projects are in development.

A separate RWE ( OTCPK:RWEOY ) project, the 80 MW Water Strider Solar project in Virginia, also has a PPA with Dominion ( D ) and came online in 2021.

RWE ( OTCPK:RWEOY ) operates a renewable energy portfolio of ~8 GW installed capacity and says it is the second largest solar owner and operator in the U.S.

More on Dominion Energy:

• Financial and valuation comparison to sector peers
• Analysis: Dominion's 5% Yield: Is The Juice Worth The Squeeze?
• Stock price return: Down 18.5% YTD, down 34% in the past 12 months

For further details see: