Dominion Plots $43 Billion, Five-Year Plan to Boost RNG, Solar

March 4, 2024--Researched by Industrial Info Resources (Sugar Land, Texas)--Dominion Energy Incorporated (NYSE:D) (Richmond, Virginia) capped a strong 2023 with a "top-to-bottom" business review that provided guidance on its plans to build out its renewable-energy capacity, particularly for offshore wind, and establish a presence in the emerging market for renewable natural gas (RNG). In a presentation to investors, executives said "unrivaled demand growth" would drive significant regulated capital investment in the near term. Industrial Info is tracking nearly $40 billion worth of active and planned projects from Dominion.

"We're forecasting a total five-year capital plan of $43 billion, which drives consolidated annual investment growth of 7.5% through 2029," said Steven Ridge, the chief financial officer of Dominion, in a recent presentation to investors. The total includes $23 billion in electric transmission and distribution, $6 billion in solar and offshore wind, and $2 billion toward the extension of nuclear licenses in Virginia.

Other companies featured: Hanwha QCells, Smithfield Foods Incorporated, General Electric (NYSE:GE) and Stonepeak