The transaction is expected to close following the installation of the project, following which EDF RE will manage the commission the project.
The CID Solar Project, which will be equipped with First Solar Series 3 solar photovoltaic modules, is spread across 200 acres of private land two miles north of the City of Corcoran, California.
Construction on the project commenced in June 2014 and is expected to be operation in the Fall, 2014.
Power generated from the project will be sold to Pacific Gas and Electric Company (PG&E) under a 20-year power purchase agreement (PPA).
EDF Renewable Energy’s director of divestiture and portfolio management Raphael Declercq said, "We are pleased to introduce Dominion to our asset sale activity and help diversify their generating portfolio with solar energy. "
"The acquisition agreement was collaboratively structured in order to allow EDF RE to execute on its expertise as a project developer and construction manager while meeting the goals of our customer to grow their renewable energy asset portfolio," Declercq added.
