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Facebook goes green in new partnership with Dominion Energy

Facebook goes green in new partnership with Dominion Energy

 

Dominion Energy, one of the US largest producers and transporters of energy, announced a new partnership agreement with social media giant Facebook as part of their ambitious strategy to become 100% renewables reliant within one year.

The partnership agreement, along with strong Q1 reporting saw Dominions stock hit a 52week high in early Feb.

In the agreement, Dominion Energy will build and operate the 100MW Sadler Solar Facility, which will provide Facebook with the clean energy it generates. Having received approval from the Virginia State Corporation Commission earlier this year the facility is expected to be operational by the end of December.

This development, located in Greensville Country, Virginia, will build on Dominion Energy’s portfolio and will become the eighth addition to Dominion’s Solar Facilities in Virginia and North Carolina, supporting Facebook operations. The new facility is key to Facebook’s ambitious sustainability strategy, which aims to transition the global corporation to 100%renewables for their operational energy requirements by the end of 2020.

Speaking of the deal, Emil Avram, VP Of Business Development at Dominion Energy said:

“Partnerships with companies like Facebook help drive the addition of renewable energy to the grid. We are honoured to work with them to help meet their sustainability goals as well as continue to expand renewable energy across the Dominion Energy service area.”

Urvi Parekh, head of Renewable Energy at Facebook said:

“We are proud to continue to grow our partnership with Dominion Energy by adding this new 100-MW project to the grid. Since 2017, this partnership has resulted in over 690 MW of new solar energy in Virginia and North Carolina and has helped strengthen the renewable energy market in the region.”

As well as enabling Facebook to deliver the mega-corps energy transition strategy, this strategic partnership is also key to meeting Dominion Energy’s own goal of having 3,000 MW in new solar and wind energy operational or under development in Virginia by 2022.

Published: 06-03-2020

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