© Reuters. FILE PHOTO: Electrical energy transmission pylon miniatures and Dominion Power brand are seen on this illustration taken, December 9, 2022. REUTERS/Dado Ruvic/Illustration
(Reuters) – Utilities agency Dominion Power Inc will purchase Longroad Power’s 108 megawatt photo voltaic venture in Virginia, the U.S.-based renewable power developer stated on Tuesday.
The photo voltaic venture, known as Foxhound, has been in improvement for six years and can produce sufficient clear power to energy greater than 17,000 houses, Longroad stated in a press launch.
Monetary particulars of the deal weren’t disclosed.
Dominion and different massive U.S. utilities with renewable initiatives are set to learn from new federal clean-energy funding within the $430 billion Inflation Discount Act. The act supplies billions of {dollars} in tax credit and direct funds for photo voltaic, wind, battery and different power sources to transition from fossil fuels.
The monetary shut of Dominion’s acquisition is anticipated upon mechanical completion of the venture in January 2024.
