RICHMOND, Va., Nov. 2, 2018 /PRNewswire/ -- Dominion Energy,
Inc. (NYSE: D), has closed its inaugural offering of green bonds.
The $362 million in privately placed
bond proceeds will be used to reimburse Dominion Energy for
previously deployed capital related to the acquisition, development
and/or construction of 20 merchant solar projects with a total
capacity of 574 megawatts of renewable energy.
The projects – located in California, North
Carolina, South Carolina
and Virginia – are supported by
long-term power purchase agreements (PPAs) with high-quality,
investment-grade utility, municipal and corporate
counterparties.
"We are excited about the execution of our inaugural green bond
transaction," said James R. Chapman,
senior vice president, chief financial officer and treasurer. "The
success of this offering signals alignment of our clean energy
strategy with the fixed income investment community's growing
interest in sustainability and corporate responsibility."
Dominion Energy ranks fourth in the U.S. among utility holding
companies for owned solar capacity with about 1,250 megawatts in
operation in nine states – enough to serve more than 300,000 homes
and businesses during peak production.
Barclays served as exclusive private placement agent for this
bond offering and McGuireWoods LLP served as issuer's counsel.
About Dominion Energy
Nearly 6 million
customers in 19 states energize their homes and businesses with
electricity or natural gas from Dominion Energy, headquartered in
Richmond, Va. The company is
committed to sustainable, reliable, affordable, and safe energy and
is one of the nation's largest producers and transporters of energy
with over $78 billion of assets
providing electric generation, transmission and distribution, as
well as natural gas storage, transmission, distribution, and
import/export services. As one of the nation's leading solar
operators, the company intends to reduce its carbon intensity 50
percent by 2030. Through its Dominion Energy Charitable Foundation,
as well as EnergyShare and other programs, Dominion Energy
plans to contribute more than $30
million in 2018 to community causes throughout its footprint
and beyond. Read about Dominion Energy and visit us on Facebook or
Twitter.
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SOURCE Dominion Energy