Divestiture • Renewable Energy

Dominion Energy Acquires Sunrise Energy - Three Solar Projects In Indiana

On July 22, 2013, Dominion Energy acquired renewable energy company Sunrise Energy - Three Solar Projects In Indiana from Sunrise Energy Ventures

Acquisition Context
  • This is Dominion Energy’s 1st transaction in the Renewable Energy sector.
  • This is Dominion Energy’s 9th transaction in the United States.
  • This is Dominion Energy’s 1st transaction in Indiana.

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M&A Deal Summary

Date July 22, 2013
Target Sunrise Energy - Three Solar Projects In Indiana
Sector Renewable Energy
Buyer(s) Dominion Energy
Sellers(s) Sunrise Energy Ventures
Deal Type Divestiture

Target Company

Sunrise Energy - Three Solar Projects In Indiana

Indiana, United States
The three projects are known as Indy Solar I, Indy Solar II and Indy Solar III. All three projects generate a peak combined output of 28.6 megawatts of electricity.
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Buyer Overview 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 Context for Buyer #
Overall 9 of 27
Sector: Renewable Energy 1 of 14
Type: Divestiture 5 of 20
State: Indiana 1 of 1
Country: United States 9 of 27
Year: 2013 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-03-11 Dominion - Three Merchant Power Stations

United States

Dominion's Three Merchant Power Stations are, Brayton Point Power Station, a 1,528-megawatt power station in Somerset, Kincaid Power Station, a 1,158-megawatt power station in Kincaid and Elwood Power Station, a 1,424-megawatt power station outside Chicago.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-08-30 Brayton Point Holdings

Somerset, Massachusetts, United States

Brayton Point Holdings LLC is a fossil generating facility. The facility is an efficient, reliable, clean, and safe producer of electricity with a seasonal weighted capacity of 1,557 megawatts.

Sell -

Seller Profile 1

SELLER

Sunrise Energy Ventures

Minnetonka, Minnesota, United States

Category Company
Founded 2009
Sector Renewable Energy
DESCRIPTION

Sunrise Energy Ventures (SEV) develops, owns and operates commercial to industrial scale solar photovoltaic (PV) equipment. SEV uses beneficial tax incentives (state and federal tax credits and accelerated depreciation) and utility production incentives to provide a revenue stream to its customers.


Deal Context for Seller #
Overall 1 of 1
Sector: Renewable Energy 1 of 1
Type: Divestiture 1 of 1
State: Indiana 1 of 1
Country: United States 1 of 1
Year: 2013 1 of 1