D - Dominion proposes new solar energy storage projects in Virginia

Dominion Energy ( NYSE: D ) said Monday it filed a proposal with the Virginia State Corporation Commission for nearly two dozen new solar and energy storage projects for Virginia customers that would provide more than 800 MW of carbon-free electricity, enough to power 200K-plus Virginia homes at peak production.

Dominion ( D ) said the proposal includes 10 solar and energy storage projects, totaling nearly 500 MW, that it would own and operate, plus power purchase agreements with 13 solar and energy storage projects totaling more than 300 MW that are owned by independent developers.

If approved, the projects are expected to be completed during 2023-25 and add $0.38 to the average residential customer's monthly bill.

Dominion ( D ) said the projects will help meet Virginia's renewable portfolio requirement that the company generate 100% of its electricity from carbon-free sources by 2045.

Dominion ( D ) shares have been hit hard by rising yields and inflation fears, pushing its dividend yield above 4%, but they offer "an attractive mix of income and growth," Seeking Profits writes in an analysis newly posted on Seeking Alpha .

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