Thursday, February 22, 2024
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HomeNewsBusiness WireDominion Energy Acquires Second Energy Storage Project from East Point Energy

Dominion Energy Acquires Second Energy Storage Project from East Point Energy

CHARLOTTESVILLE, Va.–(BUSINESS WIRE)–East Point Energy, an energy storage development firm, announced the sale of the Shands Energy Storage project to Dominion Energy Virginia, one of the nation’s largest utilities. At 15.7 megawatts(MW)/62.8 megawatt-hours (MWh), Shands will be one of the largest standalone storage projects in Virginia when it becomes operational in 2023. Located in Sussex County, Shands will enhance local grid reliability and serve as an essential component of Dominion Energy’s 100% clean energy future.

Dominion Energy acquired Shands as part of the company’s 2022 Clean Energy Request for Proposals. This is the second project that East Point has sold to Dominion as a result of this RFP process; the first being the 20 MW Dry Bridge Energy Center project, which will be the largest operational battery energy storage project in Virginia when it comes online later this year.

“Dominion Energy remains committed to delivering clean, reliable energy to our customers in Virginia. The company is once again excited to work with East Point Energy and announce another utility-scale energy storage project,” said Brandon Martin, Dominion’s Manager of Business Development of Energy Storage. “This project represents another critical step in expanding the energy storage program within the Commonwealth of Virginia. The project will continue to support the Virginia Clean Economy Act (VCEA), as further expansion of energy storage within the Commonwealth will play an invaluable part in ensuring grid reliability during periods of high demand and periods of inherently intermittent renewable generation.”

“East Point is excited to partner with Dominion Energy once again with the Shands project, continuing to work to improve the reliability of the grid in our home state of Virginia,” said East Point Energy CEO, Andrew Foukal.

In July 2022, East Point announced that it will operate as a wholly-owned subsidiary of Equinor, a broad international energy company committed to long-term value creation in a low-carbon future. East Point will now not only develop, but also construct, own and operate energy storage projects that contribute to making the grid more renewable, resilient, and affordable.

About East Point Energy

East Point Energy is a development firm focused on the origination, construction, and operation of energy storage projects. Our team is currently developing gigawatts of energy storage projects throughout the country, helping to transform the grid into a renewable, resilient, and affordable system for generations to come. East Point is a wholly owned subsidiary of Equinor, a broad international energy company committed to long-term value creation in a low-carbon future.

www.eastpointenergy.com

Contacts

Press Contact:

Anne Eschenroeder

(434) 465-6210

[email protected]

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