Fwd: Dominion closes on first phase of solar sale to SunEdison

Operating assets sold at $2.00W AC.

---------- Forwarded message ----------
From: "Rebecca Van Nichols" <rvan@tnag.net>
Date: Apr 2, 2016 8:53 PM
Subject: Dominion closes on first phase of solar sale to SunEdison
To: <mbannerman@arcstarenergy.com>
Cc:

http://www.pennenergy.com/articles/pennenergy/2016/01/dominion-closes-on-first-phase-of-solar-sale-to-sunedison.html?eid=288620647&bid=1267158

Dominion closes on first phase of solar sale to SunEdison

January 2, 2016

By PennEnergy Editorial Staff 

Source: Dominion

Dominion (NYSE: D) announced that it has closed on the first phase of its previously announced sale of a 33 percent ownership interest in 425 megawatts (AC) of solar generating capacity to SunEdison, Inc. (NYSE: SUNE). Dominion received approximately $180 million for the first phase, which includes an ownership interest in 253 megawatts (AC) of solar generating capacity at 15 sites in five states.

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The second phase is expected to close by early 2016 for approximately $120 million, subject to working capital and certain other adjustments. It consists of a 33 percent ownership interest in nine projects in three states – totaling 172 megawatts (AC) of generating capacity.

Dominion expects to pay down debt with the cash proceeds.

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