Dominion Energy Expands Battery Storage Fleet In Virginia
Portfolio Pulse from Benzinga Newsdesk
Dominion Energy Virginia, a subsidiary of Dominion Energy, has launched its largest battery storage facility in Chesterfield County, Virginia. The Dry Bridge Battery Energy Storage System has a capacity of 20 megawatts, enough to power 5,000 homes for up to four hours. This facility contributes to the company's renewable energy efforts, including the largest offshore wind project in the U.S. and the second-largest solar fleet. It also generates significant tax revenue for the county. The company is expanding its battery storage capabilities, with several other projects in development or recently announced.
December 07, 2023 | 3:44 pm
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Dominion Energy's launch of the largest battery storage facility in its fleet signifies a strategic expansion in renewable energy storage, which is likely to bolster investor confidence in the company's commitment to clean energy and grid reliability.
The operational launch of Dominion Energy's largest battery storage facility demonstrates the company's progress in renewable energy infrastructure, which is a growing focus for investors. The facility's capacity to support 5,000 homes and generate tax revenue, along with the company's ongoing projects, suggests a positive outlook for Dominion Energy's renewable energy portfolio and its potential for future revenue growth. This news is likely to be viewed favorably by investors, potentially leading to a short-term positive impact on the stock price.
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