M&A Deal Summary

Dominion Energy Acquires Cypress Creek Renewables - Central Virginia Solar Project

On August 17, 2020, Dominion Energy acquired renewable energy company Cypress Creek Renewables - Central Virginia Solar Project from Cypress Creek Renewables

Acquisition Highlights
  • This is Dominion Energy’s 14th transaction in the Renewable Energy sector.
  • This is Dominion Energy’s 27th transaction in the United States.
  • This is Dominion Energy’s 4th transaction in California.

M&A Deal Summary

Date 2020-08-17
Target Cypress Creek Renewables - Central Virginia Solar Project
Sector Renewable Energy
Buyer(s) Dominion Energy
Sellers(s) Cypress Creek Renewables
Deal Type Divestiture

Target

Cypress Creek Renewables - Central Virginia Solar Project

Santa Monica, California, United States
Cypress Creek Renewables, LLC - Central Virginia Solar Project is a 62.5-megawatt (AC) Madison Solar generating facility.

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Buyer(S) 1

Buyer

Dominion Energy

Richmond, Virginia, United States

Category Company
Founded 1983
Sector Utilities
Employees14,700
Revenue 14.5B USD (2024)
DESCRIPTION
Dominion's corporate headquarters in downtown Richmond, Virginia.
Dominion's corporate headquarters in downtown Richmond, Virginia.

Dominion Energy is a producer and transporter of energy, with a portfolio of approximately 25,700 megawatts of electric generation, 15,000 miles of natural gas transmission, gathering, storage, and distribution pipeline, and 6,600 miles of electric transmission and distribution lines. Dominion Energy was founded in 1983 and is based in Richmond, Virginia.


DEAL STATS #
Overall 27 of 27
Sector: Renewable Energy M&A 14 of 14
Type: Divestiture M&A Deals 20 of 20
State: California M&A 4 of 4
Country: United States M&A 27 of 27
Year: 2020 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-07-05 Dominion Energy - Gas Transmission & Storage Segment Assets

Richmond, Virginia, United States

Dominion Energy, Inc.'s Gas Transmission & Storage segment assets include more than 7,700 miles of natural gas storage and transmission pipelines and about 900 billion cubic feet of gas storage.

Sell $9.7B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-11 Hope Gas

Clarksburg, West Virginia, United States

Hope Gas provides reliable and affordable natural gas, safely, to the people and businesses of the Mountain State. It has been a pioneer in the natural gas sector, taking part in the construction of one of America's first interstate pipelines, which originated in Wetzel County, and building the country's first extraction plant at Hastings. Hope Gas was formed in 1898 and is based in Clarksburg, West Virginia.

Sell $690M

Seller(S) 1

SELLER

Cypress Creek Renewables

Santa Monica, California, United States

Category Company
Founded 2014
Sector Renewable Energy
DESCRIPTION

Cypress Creek Renewables is a developer and long-term owner of solar energy projects with development assets in markets across the United States. Their business model is focused on utility-scale ground mount projects from 2-20MW AC in capacity. Cypress Creek Renewables was founded in 2014 and is based in Santa Monica, California.


DEAL STATS #
Overall 1 of 1
Sector: Renewable Energy M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
State: California M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2020 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-11 FLS Energy

Asheville, North Carolina, United States

FLS Energy, Inc. is a full service solar energy provider that owns and operates a portfolio of solar energy assets throughout the U.S. FLS development team takes projects from conception to commissioning and offers complete in-house system design, engineering, construction, financing and turnkey project development.

Buy -