Dominion Virginia Power announced nearly $2 billion in investments per year through 2020 to add new clean generation and expand, secure and upgrade the electric grid in Virginia and northeastern North Carolina.
Of the $9.5 billion in planned capital expenditures through 2020, $2.4 billion is slated for the company’s distribution system, $3.6 billion for transmission lines and substations and $3.5 billion for new generation and environmental improvements. Included in that is $700 million for new solar power generation and additional funds to put distribution lines underground.
The Virginia State Corporation Commission must first approve the plan.
The utility made $1.8 billion in similar investments in 2015 and has invested more than $8 billion in new infrastructure since 2008.
The recent announcement is in addition to the planned $5 billion, natural gas Atlantic Coast Pipeline being built by Dominion Transmission.
Construction is scheduled to begin in late 2016, subject to Federal Energy Regulatory Commission approval.