Dominion Energy, Smithfield Foods Boost Investment in Renewable Natural Gas

   By Michael Dabaie

Dominion Energy Inc. (D) and Smithfield Foods Inc. said they are doubling their investment in U.S. renewable natural gas projects to $500 million through 2028.

The companies said the additional investment will expand their Align Renewable Natural Gas joint venture. Dominion and Smithfield formed Align RNG in November 2018, committing $250 million over 10 years to capture methane from Smithfield's company-owned and contract hog farms and convert it into RNG. With this additional $250 million investment, the companies said they will produce enough RNG to power more than 70,000 homes and businesses by 2029.

Align RNG's first project in Milford, Utah, will be operational this year.

Write to Michael Dabaie at michael.dabaie@wsj.com

(END) Dow Jones Newswires

October 23, 2019 11:29 ET (15:29 GMT)

Dominion Energy (NYSE:D)
Historical Stock Chart
From Aug 2024 to Sep 2024