NOVEC will purchase 300 megawatts of solar energy

by Priscilla KnightfacebookTwitterYouTube


NOVEC recently reached an agreement to purchase 300 megawatts of electricity from solar-energy “farms” owned by D.E. Shaw Renewable Investments (DESRI). The new green electricity will add to the 60 megawatts of renewable energy NOVEC already distributes to Co-op customers from its woody biomass generating plant in Halifax County, and generators that use hydropower, solar energy, and landfill methane gas.
Solar Panels


The solar farms will consist of ground-mounted solar panels that track the sun’s movement during daylight hours. NOVEC and DESRI expect the farms will begin producing electricity for Co-op customers by 2023 and produce enough to power nearly 73,000 homes.

“This addition of solar-generated electricity will become NOVEC’s largest source of renewable energy,” said Gil Jaramillo, manager, portfolio optimization and business development. “Additionally, its projected cost is competitive with the marketplace for comparable on-peak energy.”

DESRI estimates replacing electricity generated by fossil fuels with carbon-free solar energy equates to taking nearly 37,000 passenger vehicles off the road. Furthermore, the companies anticipate the solar projects will create 250 jobs in local communities during construction.

DESRI will construct the solar facilities within the Dominion Energy Virginia and PJM footprint. PJM is the regional transmission organization that coordinates the movement of wholesale electricity in all or parts of 13 states, including Virginia, and the District of Columbia.

“The DESRI team is thrilled to partner with NOVEC to bring low-cost solar power to Virginia residents,” said David Zwillinger, DESRI president, whose company owns and operates solar farms across the United States. “We are committed to growing the renewable-energy economy in the region.”

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. Our strategy is to continue improving our environmental footprint through the addition of new renewable-energy sources that are not only clean, but also affordable. This partnership with DESRI does just that.”