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Researched by Industrial Info Resources (Sugar Land, Texas)--Dominion Energy Incorporated (NYSE:D) (Richmond, Virginia) exceeded expectations in the second quarter of 2018, as the Cove Point Liquefaction project achieved commercial in-service, the company made strides in its acquisition of SCANA Corporation (NYSE:SCG) (Cayce, South Carolina), and it received some good news last week on one of its biggest projects: the Atlantic Coast Pipeline. Industrial Info is tracking more than $15.3 billion in active projects involving Dominion, more than 25% of which is attributed to projects under construction.
Click on the image at right for a graph detailing active Dominion projects, by state.
The Atlantic Coast Pipeline would carry up to 1.5 billion cubic feet per day of natural gas about 600 miles from the Marcellus and Utica shale plays in Pennsylvania, West Virginia and Ohio to customers in Virginia and North Carolina. The U.S. Federal Energy Regulatory Commission (FERC) approved the start of construction for North Carolina sections of the project on July 25.
The line has four major segments under construction:
Dominion officials said construction on one of its most anticipated projects, the $1.3 billion Greensville County Power Station in Emporia, Virginia, is going as planned. The natural gas-fired, combined-cycle (NGCC) facility is expected to generate 1,588 megawatts (MW) from three Mitsubishi combustion turbines and an Alstom steam turbine. For more information, see Industrial Info's project report and July 13, 2018, article - EIA: Natural Gas-fired Power Generation to Be Near Record High This Summer.
"Construction of the Greensville County combined-cycle power station continues on time and on budget," said Thomas Farrell, the chief executive officer of Dominion, in an earnings-related conference call. "The project is 95% complete. We have achieved first fire and grid sync of the GT-1C and GT-1B turbines, and expect to fire and sync the one GT-1A turbine within the next two weeks; 226 of 253 systems are in commissioning. The Greensville County station is expected to achieve commercial operations late this year."
Across its home state of Virginia, Dominion is at work on a series of rebuilds, upgrades and expansions to its transmission system. These include:
Also in Virginia, Dominion is at work on two solar-power projects that are set to wrap up in the coming months: the $40 million solar plant near Montross and the $33 million Hollyfield plant in Manquin. The facilities, which will produce 20 MW and 17 MW, respectively, will use photovoltaic panels. Dominion has vowed to install 3,000 MW of renewable-fueled plants by 2022, which is enough to power 750,000 homes, according to the company. For more information, see Industrial Info's reports on the Montross and Manquin projects.
A renewable project is in an early phase: the proposed, $225 million Coastal Virginia Offshore Windfarm near Virginia Beach, which would generate 12 MW from a pair of Alstom S.A.'s Halide 150 wind turbines. Dominion plans to seek approval from Virginia's State Corporate Commission in the coming weeks. For more information, see Industrial Info's project report.
Dominion's net earnings for the second quarter stood at $449 million, a 15.13% increase over the same period last year. Revenues were reported to be $3.09 billion, a 9.8% increase. SCANA's shareholders earlier this week approved the proposed merger with Dominion.
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/.
Click on the image at right for a graph detailing active Dominion projects, by state.The Atlantic Coast Pipeline would carry up to 1.5 billion cubic feet per day of natural gas about 600 miles from the Marcellus and Utica shale plays in Pennsylvania, West Virginia and Ohio to customers in Virginia and North Carolina. The U.S. Federal Energy Regulatory Commission (FERC) approved the start of construction for North Carolina sections of the project on July 25.
The line has four major segments under construction:
- $525 million segment from Harrison, Lewis and Pocahontas counties, West Virginia, to Nottoway and Dinwiddie counties, Virginia, running 83 miles; see project report
- $150 million segment from Brunswick County to Greensville County, Virginia, running 2.5 miles; see project report
- $525 million segment from Chesapeake, Virginia, to Northampton County, North Carolina, running 83 miles; see project report
- $675 million segment from Northampton County to Robeson County, North Carolina, running 186 miles; see project report
Dominion officials said construction on one of its most anticipated projects, the $1.3 billion Greensville County Power Station in Emporia, Virginia, is going as planned. The natural gas-fired, combined-cycle (NGCC) facility is expected to generate 1,588 megawatts (MW) from three Mitsubishi combustion turbines and an Alstom steam turbine. For more information, see Industrial Info's project report and July 13, 2018, article - EIA: Natural Gas-fired Power Generation to Be Near Record High This Summer.
"Construction of the Greensville County combined-cycle power station continues on time and on budget," said Thomas Farrell, the chief executive officer of Dominion, in an earnings-related conference call. "The project is 95% complete. We have achieved first fire and grid sync of the GT-1C and GT-1B turbines, and expect to fire and sync the one GT-1A turbine within the next two weeks; 226 of 253 systems are in commissioning. The Greensville County station is expected to achieve commercial operations late this year."
Across its home state of Virginia, Dominion is at work on a series of rebuilds, upgrades and expansions to its transmission system. These include:
- a proposed, $80 million expansion of the Idylwood Substation in Falls Church, which would add a a 500-kilovolt transformer to accommodate load growth; see project report
- a proposed, $52.9 million rebuild of a transmission line from Petersburg to Emporia, covering 27.5 miles; see project report
- $51.5 million rebuild of a transmission line from Scottsville to Augusta County, under construction and covering 33 miles; see project report
- $51 million rebuild of a transmission line from Fredericksburg to Doswell, under construction and covering 34 miles; see project report
Also in Virginia, Dominion is at work on two solar-power projects that are set to wrap up in the coming months: the $40 million solar plant near Montross and the $33 million Hollyfield plant in Manquin. The facilities, which will produce 20 MW and 17 MW, respectively, will use photovoltaic panels. Dominion has vowed to install 3,000 MW of renewable-fueled plants by 2022, which is enough to power 750,000 homes, according to the company. For more information, see Industrial Info's reports on the Montross and Manquin projects.
A renewable project is in an early phase: the proposed, $225 million Coastal Virginia Offshore Windfarm near Virginia Beach, which would generate 12 MW from a pair of Alstom S.A.'s Halide 150 wind turbines. Dominion plans to seek approval from Virginia's State Corporate Commission in the coming weeks. For more information, see Industrial Info's project report.
Dominion's net earnings for the second quarter stood at $449 million, a 15.13% increase over the same period last year. Revenues were reported to be $3.09 billion, a 9.8% increase. SCANA's shareholders earlier this week approved the proposed merger with Dominion.
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/.
