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Dominion proposes USD-594m grid investment in Virginia

Whitehouse Solar, Louisa County, Virginia. Source: Dominion Virginia Power

October 1 (Renewables Now) - US utility Dominion Energy Inc (NYSE:D) has filed a new proposal with VIrginia’s State Corporation Commission (SCC) that calls for an investment of USD 594 million (EUR 545m) through 2021 to modernise the grid.

Dominion is looking for clearance to invest in deploying a new customer information platform that enables the digital management of customers’ energy usage, as well as in the installation of almost one million smart meters. The company hopes to achieve full smart meter deployment in its Virginia service area by 2024.

The resulting smart grid will maximise the benefits of renewable energy generation regardless of whether power comes from offshore wind or rooftop solar parks, the company said in a press release.

Furthermore, the proposed investments will help introduce new programmes to support rideshare electrification and electric vehicle (EV) charging at various places.

The state of Virginia is targeting a decarbonisation of its power sector by 2050.

(USD 1.0 = EUR 0.918)

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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