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Released November 10, 2020 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--Like other U.S. power companies, Dominion Energy Incorporated (NYSE:D) (Richmond, Virginia) has pledged to have net-zero emissions by 2050 for carbon dioxide and methane from its power generation and natural gas infrastructure operations. One of the ways Dominion is doing this is by implementing several solar projects as well as taking a leading role in U.S. offshore wind generation.
In the company's recent third-quarter earnings conference call, Chief Executive Officer Tom Farrell said that the company had "regulated and long-term contracted capital investment of up to $55 billion over the next 15 years in projects that directly reduce our emissions footprint, including offshore wind, solar, energy storage, nuclear life extension, renewable natural gas and gas delivery system modernization."
Co-Chief Operating Officer Bob Blue expanded on some of these projects. "Perhaps our most notable efforts are around offshore wind," said Blue. "In 2013, we acquired a 112,000-acre lease 26 miles off the coast of Virginia. We were the first company to successfully complete the federal permitting process coordinated by BOEM [Bureau of Ocean Energy Management] for a wind project in federal waters. That permit covered our 12-megawatt (MW) test project, which was successfully energized just weeks ago." Construction on the pilot project started last year and uses two Siemens Gamesa 6-MW turbines. Orsted North America Incorporated (Boston, Massachusetts) provided engineering, procurement and construction (EPC) services. For more information, see Industrial Info's project report.
But the pilot project is only a larger taste of what Dominion hopes to achieve. Blue said, "We continue to be on track to submit our permit application for our 2.6-gigawatt, $8 billion full-scale deployment at yearend. And just as a reminder, our existing leasehold acreage will fully support that project. We expect BOEM permitting to take around two years with capital investment to start to ramp up in 2023 and full-scale construction commencing in 2024." The project would use 200 wind turbines. Orsted will take the EPC role in this project as well. For more information, see Industrial Info's project report.
Part of Dominion's net-zero emissions goal is legislated. The Virginia Clean Economy Act, passed earlier this year, sets the schedule for Dominion to produce its electricity from 100% renewable sources by 2045. The law also requires the closure of nearly all the coal-fired power plants in the state by the end of 2024. One of the ways Dominion plans to accomplish this is the buildout of solar power in its home state. According to Blue, Dominion recently made in a filing for nine solar facilities in Virginia, totaling nearly 500 MW.
Some of Dominion's solar facilities under construction at the moment include the Belcher and Sadler photovoltaic plants. The Belcher plant near Louisa, about 55 miles northwest of Richmond, will use 68,000 35.5-watt solar modules to generate 88.2 MW. The Sadler solar farm near Emporia, about 65 miles south of Richmond, will use 346,248 panels on a fixed-tilt axis to generate 102 MW. Wood plc (Woodstock, Georgia) is providing EPC services for both projects, which are expected to be completed by the end of this year. For more information, see Industrial Info's project reports on the Belcher and Sadler solar farms.
While, as Farrell said, Dominion is seeking some nuclear facility life extensions to achieve its emissions goals, it is in the process of decommissioning a nuclear facility in Wisconsin. The Kewaunee Power Station was commissioned in 1974, and the plant came offline in 2013, with the Dominion chief executive saying, "Dominion was not able to move forward with our plan to grow our nuclear fleet in the Midwest to take advantage of economies of scale." For more information, see Industrial Info's project report.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
In the company's recent third-quarter earnings conference call, Chief Executive Officer Tom Farrell said that the company had "regulated and long-term contracted capital investment of up to $55 billion over the next 15 years in projects that directly reduce our emissions footprint, including offshore wind, solar, energy storage, nuclear life extension, renewable natural gas and gas delivery system modernization."
Co-Chief Operating Officer Bob Blue expanded on some of these projects. "Perhaps our most notable efforts are around offshore wind," said Blue. "In 2013, we acquired a 112,000-acre lease 26 miles off the coast of Virginia. We were the first company to successfully complete the federal permitting process coordinated by BOEM [Bureau of Ocean Energy Management] for a wind project in federal waters. That permit covered our 12-megawatt (MW) test project, which was successfully energized just weeks ago." Construction on the pilot project started last year and uses two Siemens Gamesa 6-MW turbines. Orsted North America Incorporated (Boston, Massachusetts) provided engineering, procurement and construction (EPC) services. For more information, see Industrial Info's project report.
But the pilot project is only a larger taste of what Dominion hopes to achieve. Blue said, "We continue to be on track to submit our permit application for our 2.6-gigawatt, $8 billion full-scale deployment at yearend. And just as a reminder, our existing leasehold acreage will fully support that project. We expect BOEM permitting to take around two years with capital investment to start to ramp up in 2023 and full-scale construction commencing in 2024." The project would use 200 wind turbines. Orsted will take the EPC role in this project as well. For more information, see Industrial Info's project report.
Part of Dominion's net-zero emissions goal is legislated. The Virginia Clean Economy Act, passed earlier this year, sets the schedule for Dominion to produce its electricity from 100% renewable sources by 2045. The law also requires the closure of nearly all the coal-fired power plants in the state by the end of 2024. One of the ways Dominion plans to accomplish this is the buildout of solar power in its home state. According to Blue, Dominion recently made in a filing for nine solar facilities in Virginia, totaling nearly 500 MW.
Some of Dominion's solar facilities under construction at the moment include the Belcher and Sadler photovoltaic plants. The Belcher plant near Louisa, about 55 miles northwest of Richmond, will use 68,000 35.5-watt solar modules to generate 88.2 MW. The Sadler solar farm near Emporia, about 65 miles south of Richmond, will use 346,248 panels on a fixed-tilt axis to generate 102 MW. Wood plc (Woodstock, Georgia) is providing EPC services for both projects, which are expected to be completed by the end of this year. For more information, see Industrial Info's project reports on the Belcher and Sadler solar farms.
While, as Farrell said, Dominion is seeking some nuclear facility life extensions to achieve its emissions goals, it is in the process of decommissioning a nuclear facility in Wisconsin. The Kewaunee Power Station was commissioned in 1974, and the plant came offline in 2013, with the Dominion chief executive saying, "Dominion was not able to move forward with our plan to grow our nuclear fleet in the Midwest to take advantage of economies of scale." For more information, see Industrial Info's project report.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
