Dominion & BP Announce Agreement to Jointly Develop Wind Farms in Virginia

RICHMOND, Va., April 21 /PRNewswire-FirstCall/ -- Dominion (NYSE: D) and
BP Alternative Energy North America Inc. announced today that they have
entered into an agreement to jointly develop, own and operate wind energy
projects in Virginia. Terms of the joint development agreement were not
disclosed.
Thomas F. Farrell II, Dominion's chairman, president and chief executive
officer, said:
"Today's announcement is another important step in continuing to grow
Dominion's portfolio of renewable energy projects -- which include more than
750 megawatts of wind in operation or under development -- to help provide for
our customers' growing electricity needs. We are committed to meeting
Virginia's goal of 12 percent of base-year electricity sales from renewable
energy sources by 2022. We also plan to achieve North Carolina's goal of 12.5
percent from renewable energy sources and energy efficiency by 2021.
"We look forward to our continued partnership with BP, a company that we
greatly admire and one with which we already enjoy an excellent working
relationship."
Bob Malone, chairman and president of BP America, said:
"BP is rapidly growing its wind power portfolio in the U.S. and we're
happy to be working again with Dominion on additional wind power projects.
Wind is one of America's most abundant natural resources and we believe that
turning wind into electricity should be a major part of the nation's drive to
increase the use of alternative energy and reduce carbon emissions. Through
investments like these in alternative energy, and through continued investment
in our core oil and gas business, we are working to diversify and expand U.S.
energy supply."
In January, Dominion announced that it joined BP as a 50 percent partner
in the Fowler Ridge Wind Farm in Benton County, Ind. The Fowler Ridge facility
is expected to be built in two phases and generate a total of 750 megawatts.
Dominion and BP are partners for 650 megawatts, with BP retaining sole
ownership of 100 megawatts. The first phase of the project is currently under
construction and is expected to be operational by the end of 2008.
Potential projects for development include sites that have excellent wind
resources and would serve the electricity needs of Dominion's utility
customers in Virginia and northeast North Carolina.
About Dominion:
Dominion is one of the nation's largest producers and transporters of
energy, with a portfolio of approximately 26,500 megawatts of generation, 1.1
trillion cubic feet equivalent of proved natural gas and oil reserves and
14,000 miles of natural gas transmission, gathering and storage pipeline.
Dominion also owns the nation's largest underground natural gas storage system
and operates more than 975 billion cubic feet of storage capacity, and serves
retail energy customers in 11 states.
Its renewable portfolio includes nearly 1,300 megawatts under development
or in operation. This includes more than 750 megawatts of wind energy: 325
megawatts from Fowler Ridge, 132 megawatts from a joint development with Shell
WindEnergy in Grant County, W.Va., and 300 megawatts from Dominion's Prairie
Fork Wind Farm in Central Illinois.
For more information about Dominion, visit the company's Web site at
http://www.dom.com.
About BP Alternative Energy/BP America:
BP Alternative Energy, launched in November 2005, combines all of BP's
interests in low and zero-carbon energy including wind, solar, hydrogen power
with carbon capture and storage, natural gas-fired power generation, biofuels
for low carbon transport and distributed energy for emerging markets. BP
Alternative Energy is one of the leading wind developers in the U.S. with a
wind portfolio that includes the opportunity to develop almost 100 projects
and a potential total generating capacity of 15,000 megawatts. The company
currently has a total of five wind projects under construction in California,
Indiana, Kansas and Texas. By the end of 2008, it's expected that over 1,000
megawatts of wind projects developed by BP Alternative Energy North America
will be in operation.
BP America is the largest producer of oil and gas in the United States and
one of the nation's largest energy investors. For more information, visit the
company's Web sites at http://www.bpalternativenergy.com and
http://www.bp.com/us.
SOURCE Dominion

Media, Ryan Frazier of Dominion, +1-804-819-2521, C.Ryan.Frazier@dom.com; or
Sarah Howell of BP, +1-202-457-6603; or Analysts, Laura Kottkamp of Dominion,
+1-804-819-2254, Laura.E.Kottkamp@dom.com