Electric Cooperative to Provide Clean Energy to Coop Members

Central Virginia Electric Cooperative (CVEC), a member-owned electric distribution cooperative serving over 36,000 meters in 14 Virginia counties, and Coronal Energy, powered by Panasonic, a leading independent power producer and provider of turnkey renewable energy solutions, are developing two 5 MWac solar electric generating facilities along the Interstate 64 corridor in Virginia.

The 41-acre, 5 MWac Palmer Solar Center in Troy and the 35-acre, 5 MWac Martin Solar Center in Kents Store will integrate solar-generated electricity into the power grid for the benefit of over 9,000 CVEC member owners in Fluvanna County and Goochland County, where the solar facilities are respectively located. Energy from both facilities will be procured by CVEC for the benefit of its members via 25-year power purchase agreements, while Coronal Energy will continue to own and operate the facilities upon completion. Under this structure, CVEC is not responsible for any of the costs required to build or maintain the facilities.

Electric cooperatives have fast stepped into a leading role for procuring solar energy as a clean, cost-effective, reliable option on behalf of their members. According to the National Rural Electric Cooperative Association, by the end of 2017, the total solar energy capacity of America’s electric cooperatives will be five times what it was two years ago. Cost effectiveness in procuring solar energy is critically important for not-for-profit, member-owned coops.