(Reuters) - Virginia utility regulators on Friday approved new solar projects with a total of 764 MW electricity capacity that will expand Dominion Energy (NYSE:D)'s clean energy portfolio in the U.S. state.
The more than a dozen projects approved by the Virginia State Corporation Commission included four solar facilities - amounting to 329 MW - that will either be owned or acquired by Dominion, as well as power purchase agreements for independently-owned solar projects that will deliver 435 MW of capacity in total.
Once completed, Dominion will have more than 4,600 MW of approved solar projects in Virginia - capable of powering more than 1.1 million homes at peak output, according to the utility. Dominion expects the solar projects will come online in 2026, pending local and state permits.
Dominion proposed the projects to Virginia regulators last October, as it sought to capitalize on federal clean energy incentives in the Inflation Reduction Act. The act provides for billions of dollars in tax credits and direct payments for clean energy resources.