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Dominion Acquires Indiana Solar Projects (D)

In a press release Monday, Dominion (NYSE: D) said it had acquired three solar-power development projects near Indianapolis, Indiana from Sunrise Energy Ventures.

The company expects the projects to be in service by the end of 2013 and will use standard photovoltaic technology to generate a combined 28.6 megawatts of power.

The three projects, known as Indy Solar I, Indy Solar II, and Indy Solar III are on flat agricultural and forest land. No details of the deal were released.

“Dominion has been adding renewable energy to its diversified generation mix and is very pleased to acquire these three solar projects,” said David Christian, Dominion Generation CEO. “These projects are consistent with Dominion’s promotion of a portfolio of efficient conventional, nuclear and renewable resources.”

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Disclosure: At the time of this writing, the author had no position in the company mentioned.

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