Dominion Energy Seeks Solar, Wind, and Storage PPAs to Meet Growing Demand

What's Happening?

Dominion Energy's subsidiaries in Virginia and North Carolina have issued a request for proposals (RFP) for power purchase agreements (PPAs) involving solar, onshore wind, and energy storage projects. The company is interested in both utility-scale projects exceeding 3 MW and distributed projects of 3 MW or less, located within its service territories. Dominion is also looking to acquire non-residential rooftop and carport solar projects, particularly in urban centers to alleviate grid load. This initiative is part of Dominion's strategy to address increasing power demand, with customers using about 5% more power annually. The Virginia Clean Economy Act mandates that 35% of solar energy be procured through PPAs, driving Dominion's efforts to expand its renewable energy portfolio.

Why It's Important?

Dominion's RFP reflects a broader shift towards renewable energy to meet growing electricity demand while complying with legislative requirements. By seeking PPAs, Dominion aims to diversify its energy sources, reduce reliance on fossil fuels, and enhance grid stability. This move supports the transition to a cleaner energy economy, potentially reducing carbon emissions and fostering sustainable development. The focus on urban solar projects highlights the importance of integrating renewables into densely populated areas, which can improve energy efficiency and reduce environmental impact. Dominion's strategy aligns with national and state-level clean energy goals, contributing to the broader effort to combat climate change.

What's Next?

Interested bidders must submit their Intent to Bid Form and Confidentiality Agreement by January 20. Dominion's pursuit of PPAs and acquisitions will likely lead to increased investment in renewable energy infrastructure in Virginia and North Carolina. The company's integrated resource plan outlines a goal to bring 21.1 GW of clean energy capacity online over the next 15 years, including significant solar and battery storage additions. As Dominion progresses with its 'all of the above' strategy, stakeholders in the energy sector may anticipate further opportunities for collaboration and innovation in renewable energy projects.