Northern Virginia Electric Cooperative (NOVEC) has signed an agreement to purchase nearly 300MW of clean energy from solar facilities owned by DE Shaw Renewable Investments (DESRI).
Under the agreement, DESRI’s planned facilities that would sell energy to NOVEC are expected to feature ground-mounted solar panels. These will have the ability to track the sun’s movement throughout the daylight hours to produce an estimated 300MW of electricity.
NOVEC president and CEO Stan Feuerberg said: “This agreement with DESRI is another step toward meeting our customers’ expectations for more renewable energy in NOVEC’s resource mix. Purchasing the output from these new solar facilities will be a valuable addition to our energy supply.
“NOVEC’s strategy is to continue improving our environmental footprint through the addition of new renewable energy sources that are not only clean but also affordable. The partnership with DESRI does just that.”
The solar facilities involved in the agreement are expected to produce enough electricity to power nearly 73,000 homes.
Additionally, the facilities are expected to create 250 jobs during the construction period with an emphasis on hiring from local communities.
Currently, DESRI owns and operates solar facilities across the US and has additional sites in development.
The solar facilities currently in development are expected to achieve commercial operation by 2023.
DESRI president David Zwillinger said: “The DESRI team is thrilled to partner with NOVEC to bring low-cost solarpower to Virginia residents. We are committed to growing the renewable energy economy in the region.”
The agreement between the two companies formalises the partnership to develop and construct solar-electric generation facilities within the Dominion/PJM footprint.
PJM is a regional transmission company, which serves 13 states, including Virginia, and the District of Columbia.