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Released May 06, 2021 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--Dominion Energy Incorporated (NYSE:D) (Richmond, Virginia) is planning up to $32 billion in capital investments over the next five years, with the bulk attributed to renewable-energy, decarbonization and other emission-reducing projects. Although many of these projects remain in their conceptual stages, Dominion's long-term plans could change the face of power generation east of the Mississippi River. Industrial Info is tracking more than 100 active projects from Dominion, more than $11 billion of which is attributed to renewable energy-generation projects.
Click on the image at right for a graph detailing Dominion's active projects, by fuel type.
Encouraged by the rapidly growing adoption of renewable energy sources, Dominion has been planning and constructing windfarms and solar-energy projects along the East Coast. In addition to its existing projects, the company recently issued requests for proposal (RFP) for an additional 1,000 megawatts (MW) of solar and onshore wind, as well as 100 MW of energy-storage, 100 MW of small-scale solar, and 8 MW of larger solar capacity.
Earlier this month, Dominion heard some good news on its nascent Coastal Virginia Offshore Windfarm near Virginia Beach, Virginia, which it first proposed in 2020 and would generate 2.6 gigawatts (GW) if built as envisioned. It would be the second (and largest) offshore wind project in the U.S., and the first owned by an electric utility company. Subscribers to Industrial Info's Power Project Database can click here for a detailed report.
"We're pleased that the 2.6-GW Coastal Virginia Offshore Wind project has been declared a covered project under Title 41 of the Fixing America's Surface Transportation Act program, also known as FAST 41," said Bob Blue, the chief executive officer of Dominion, in a recent quarterly earnings-related conference call. "We continue to be encouraged by the [Biden] administration's efforts to provide a pathway to timely processing of offshore wind projects." He later added: "Higher generation [from the offshore windfarm] would result in lower energy costs for customers.
The bulk of Dominion's solar buildout is in its home state. The company is in the final commissioning stage of its $200 million Sadler Solar Plant in Emporia, Virginia, which will generate 102 MW from more than 346,000 photovoltaic (PV) panels, and its $131 million Belcher Solar Plant in Louisa, which will generate 88.2 MW from about 68,000 PV panels. Both are set to wrap up later this month. Dominion also has started site preparation for its 150-MW, $300 million Fort Powhatan Solar Plant in Disputanta and its 80-MW, $120 million Greensville County Solar Plant in Jarratt, which are expected to wrap up in the third quarter of this year and 2022's first quarter, respectively. Subscribers to Industrial Info's Power Generation Project Database can see detailed reports for the Sadler, Belcher, Fort Powhatan and Greensville projects.
Later this year, Dominion is scheduled to begin construction on its estimated $130 million Arlington Solar Plant in Chatham, Virginia, which will generate 120 MW from more than 456,000 polycrystalline panels for a facility owned by Amazon.com Incorporated (NASDAQ:AMZN) (Seattle, Washington), and its estimated $100 million Pumpkinseed Solar Plant in Jarratt, which will generate 60 MW from about 215,000 polycrystalline panels. Dominion also is seeking permits for its proposed, 400-MW solar plant in Spring Grove. Subscribers to Industrial Info's Power Generation Project Database can see detailed reports for the Arlington-Amazon, Pumpkinseed and Spring Grove projects.
Dominion's solar buildout received a boost last week when the Virginia State Corporation Commission approved nine new solar facilities for subsidiary Dominion Energy Virginia's customers, with capacities totaling nearly 500 MW. According to the company, "these projects represent a major step toward achieving the goals of the Virginia Clean Economy Act (VCEA) and Dominion Energy's goal of net zero emissions." The VCEA calls for 16.1 GW of solar or onshore wind to be proposed or in operation by 2035.
Dominion also is working to install or rebuild several transmission systems in the Mid-Atlantic region. The company has been at work on a $225 million rebuild from Mount Storm, West Virginia, to Augusta County, Virginia, with about 64 miles of overhead line and poles set to be replaced; the project began construction in July 2020 and is set to wrap up in the third quarter. Dominion also is adding a $92 million line from Falls Church to Fairfax County, Virginia, which will run 4.3 miles underground and relieve the load on the existing lines in the area, which the company forecasts will exceed 300 MW by 2022. Subscribers to Industrial Info's Power Generation Project Database can see detailed reports for the projects originating in Mount Storm and Falls Church.
Dominion also is treading into the liquefied natural gas (LNG) market following its March 2020 acquisition of Pivotal LNG from Southern Company (NYSE:SO) (Atlanta, Georgia), which included a 50% stake in the JAX LNG facility in Jacksonville, Florida. Northstar Midstream (The Woodlands, Texas) owns the other 50%. Since fourth-quarter 2020, Dominion has been at work on a $135 million expansion of the JAX liquefaction plant, which would triple production to 240,000 gallons per day of LNG and double storage to 2 million gallons. Subscribers to Industrial Info's Oil & Gas Production Project Database can click here for a detailed project report.
Earlier this week, the U.S. Nuclear Regulatory Commission approved Dominion's application to extend the operating license for its Surry Nuclear Power Station in Surry, Virginia, for another 20 years. Subscribers to Industrial Info's Plant Database can click here for a plant profile.
Dominion reported $3.87 billion in revenues for first-quarter 2021, a 1.7% decline from first-quarter 2020. But the company reported net income of just more than $1 billion, compared with a $270 million loss in the same period last year; the recent gains were partly attributable to a net benefit associated with nuclear decommissioning trusts and economic hedging activities.
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.
Click on the image at right for a graph detailing Dominion's active projects, by fuel type.Encouraged by the rapidly growing adoption of renewable energy sources, Dominion has been planning and constructing windfarms and solar-energy projects along the East Coast. In addition to its existing projects, the company recently issued requests for proposal (RFP) for an additional 1,000 megawatts (MW) of solar and onshore wind, as well as 100 MW of energy-storage, 100 MW of small-scale solar, and 8 MW of larger solar capacity.
Earlier this month, Dominion heard some good news on its nascent Coastal Virginia Offshore Windfarm near Virginia Beach, Virginia, which it first proposed in 2020 and would generate 2.6 gigawatts (GW) if built as envisioned. It would be the second (and largest) offshore wind project in the U.S., and the first owned by an electric utility company. Subscribers to Industrial Info's Power Project Database can click here for a detailed report.
"We're pleased that the 2.6-GW Coastal Virginia Offshore Wind project has been declared a covered project under Title 41 of the Fixing America's Surface Transportation Act program, also known as FAST 41," said Bob Blue, the chief executive officer of Dominion, in a recent quarterly earnings-related conference call. "We continue to be encouraged by the [Biden] administration's efforts to provide a pathway to timely processing of offshore wind projects." He later added: "Higher generation [from the offshore windfarm] would result in lower energy costs for customers.
The bulk of Dominion's solar buildout is in its home state. The company is in the final commissioning stage of its $200 million Sadler Solar Plant in Emporia, Virginia, which will generate 102 MW from more than 346,000 photovoltaic (PV) panels, and its $131 million Belcher Solar Plant in Louisa, which will generate 88.2 MW from about 68,000 PV panels. Both are set to wrap up later this month. Dominion also has started site preparation for its 150-MW, $300 million Fort Powhatan Solar Plant in Disputanta and its 80-MW, $120 million Greensville County Solar Plant in Jarratt, which are expected to wrap up in the third quarter of this year and 2022's first quarter, respectively. Subscribers to Industrial Info's Power Generation Project Database can see detailed reports for the Sadler, Belcher, Fort Powhatan and Greensville projects.
Later this year, Dominion is scheduled to begin construction on its estimated $130 million Arlington Solar Plant in Chatham, Virginia, which will generate 120 MW from more than 456,000 polycrystalline panels for a facility owned by Amazon.com Incorporated (NASDAQ:AMZN) (Seattle, Washington), and its estimated $100 million Pumpkinseed Solar Plant in Jarratt, which will generate 60 MW from about 215,000 polycrystalline panels. Dominion also is seeking permits for its proposed, 400-MW solar plant in Spring Grove. Subscribers to Industrial Info's Power Generation Project Database can see detailed reports for the Arlington-Amazon, Pumpkinseed and Spring Grove projects.
Dominion's solar buildout received a boost last week when the Virginia State Corporation Commission approved nine new solar facilities for subsidiary Dominion Energy Virginia's customers, with capacities totaling nearly 500 MW. According to the company, "these projects represent a major step toward achieving the goals of the Virginia Clean Economy Act (VCEA) and Dominion Energy's goal of net zero emissions." The VCEA calls for 16.1 GW of solar or onshore wind to be proposed or in operation by 2035.
Dominion also is working to install or rebuild several transmission systems in the Mid-Atlantic region. The company has been at work on a $225 million rebuild from Mount Storm, West Virginia, to Augusta County, Virginia, with about 64 miles of overhead line and poles set to be replaced; the project began construction in July 2020 and is set to wrap up in the third quarter. Dominion also is adding a $92 million line from Falls Church to Fairfax County, Virginia, which will run 4.3 miles underground and relieve the load on the existing lines in the area, which the company forecasts will exceed 300 MW by 2022. Subscribers to Industrial Info's Power Generation Project Database can see detailed reports for the projects originating in Mount Storm and Falls Church.
Dominion also is treading into the liquefied natural gas (LNG) market following its March 2020 acquisition of Pivotal LNG from Southern Company (NYSE:SO) (Atlanta, Georgia), which included a 50% stake in the JAX LNG facility in Jacksonville, Florida. Northstar Midstream (The Woodlands, Texas) owns the other 50%. Since fourth-quarter 2020, Dominion has been at work on a $135 million expansion of the JAX liquefaction plant, which would triple production to 240,000 gallons per day of LNG and double storage to 2 million gallons. Subscribers to Industrial Info's Oil & Gas Production Project Database can click here for a detailed project report.
Earlier this week, the U.S. Nuclear Regulatory Commission approved Dominion's application to extend the operating license for its Surry Nuclear Power Station in Surry, Virginia, for another 20 years. Subscribers to Industrial Info's Plant Database can click here for a plant profile.
Dominion reported $3.87 billion in revenues for first-quarter 2021, a 1.7% decline from first-quarter 2020. But the company reported net income of just more than $1 billion, compared with a $270 million loss in the same period last year; the recent gains were partly attributable to a net benefit associated with nuclear decommissioning trusts and economic hedging activities.
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.
