RICHMOND, Va., Jan. 19, 2016 /PRNewswire/ -- Dominion (NYSE: D)
announced today that it has closed on the second and final phase of
its previously announced sale of a 33 percent ownership interest in
425 megawatts (AC) of solar generating capacity to SunEdison, Inc.
(NYSE: SUNE). Dominion sold the ownership interest in 172 megawatts
(AC) of solar generating capacity at nine sites in California, Utah and Georgia for a sales price of approximately
$120 million, subject to certain
adjustments.
The first phase of the sale – a 33 percent interest in 253
megawatts (AC) – closed in December
2015 for approximately $180
million.
Dominion expects to pay down debt with the cash proceeds.
About Dominion
Dominion is one of the nation's largest
producers and transporters of energy, with a portfolio of
approximately 24,400 megawatts of generation, 12,200 miles of
natural gas transmission, gathering and storage pipeline, and 6,490
miles of electric transmission lines. Dominion operates one
of the nation's largest natural gas storage systems with 928
billion cubic feet of storage capacity and serves utility and
retail energy customers in 14 states. For more information about
Dominion, visit the company's website at www.dom.com.
About SunEdison
SunEdison is the largest global
renewable energy development company and is transforming the way
energy is generated, distributed, and owned around the world. The
company develops, finances, installs, owns and operates renewable
power plants, delivering predictably priced electricity to its
residential, commercial, government and utility customers.
SunEdison is one of the world's largest renewable energy asset
managers and provides customers with asset management, operations
and maintenance, monitoring and reporting services. Corporate
headquarters are in the United
States with additional offices and technology manufacturing
around the world. SunEdison's common stock is listed on the New
York Stock Exchange under the symbol "SUNE." To learn more
visit www.sunedison.com.
This news release includes certain forward-looking
information that is subject to various risks and uncertainties.
Words such as "expect," "target," "would," "will," "anticipate,"
"believe," "estimate," "intend," "may," "plan," "predict,"
"project," "should" and similar terms and phrases are used to
identify forward-looking statements. A number of factors that could
cause actual results to differ from those in the forward-looking
statements are identified in Dominion's filings with the U.S.
Securities and Exchange Commission. You are referred to those
discussions for further information. These statements are not
guarantees of future performance and involve certain risks,
uncertainties and assumptions that are difficult to
predict. Any forward-looking statement speaks only as of the
date on which it is made, and the company undertakes no obligation
to update any forward-looking statement to reflect events or
circumstances after the date on which it is made.
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SOURCE Dominion