Energy generator Dominion said it has agreed to sell a 33 percent stake in its solar portfolio, including its Connecticut holdings, to SunEdison for $300 million.
The deal involves 24 projects with a total of 425 megawatts of solar generating capacity in Connecticut, California, Georgia, Indiana, Tennessee and Utah.
The majority of the projects began generating power in the past two years, and the rest were completed this year or are scheduled to be, Dominion said. All projects have long-term power purchase agreements with electricity suppliers.
Dominion acquired s 5-megawatt solar farm in Somers in 2013.
The company also owns the 2,100-megawatt Millstone Power Station and a 14.9-megawatt fuel cell park in Bridgeport.
According to U.S. Securities & Exchange Commission filings, Dominion has more than 1,000 megawatts of solar generating capacity operating, in development, or planned across seven states.
In 2012, SunEdison was one of several companies to receive multiple contracts under Connecticut’s 21-year, $1 billion renewable energy credit program.
SunEdison disclosed in 2013 that it had 16 rooftop solar facilities in Connecticut generating more than 3 megawatts of electricity for commercial and municipal customers.
Last year, Dominion sold its retail electricity business, which had 600,000 customers in Connecticut, Massachusetts and seven other states.
