Dominion Buys 3 Hoosier Solar Projects

Dominion Resources is going green(er).

Following up on March's purchase of a 7.7-megawatt solar power project in Georgia, Dominion announced Monday that it has acquired three solar power development projects near Indianapolis from Sunrise Energy Ventures.

The three projects, designated Indy Solar I, Indy Solar II, and Indy Solar III, are expected to begin operations this year, producing a combined peak output of 28.6 megawatts of electricity. That's about enough electricity to power 34,400 average homes. Indianapolis Power and Light Company, a subsidiary of AES Corporation , has contracted to buy the power output by these projects under a 15-year power purchase agreement.


Dominion did not disclose the purchase price for these projects, calling it confidential.

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The article Dominion Buys 3 Hoosier Solar Projects originally appeared on Fool.com.

Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool recommends Dominion Resources. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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