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Subject: Product/Service

East Point Energy Sells 20 Megawatt Battery Energy Storage Project to Dominion Energy


East Point Energy, a Virginia-based energy storage developer, announced the sale of the Dry Bridge Energy Storage project to Dominion Energy Virginia, one of the nation's largest utilities. At 20 megawatts / 80 megawatt-hours, Dry Bridge is expected to be the largest battery energy storage project in the Commonwealth of Virginia when it becomes operational in 2022. Located in Chesterfield County, Dry Bridge will be an essential component of Dominion Energy's 100% clean energy future.

Dominion Energy acquired Dry Bridge as part of the company's 2020 Clean Energy Request for Proposals. Under the Virginia Clean Economy Act, Dominion Energy will build or procure 2,700 megawatts of energy storage capacity by 2035 and must have 100% of its electricity sales in Virginia come from clean energy sources by 2045.

In addition to providing power to approximately 5,000 homes at peak output, this project is capable of delivering services that include:

"Dominion Energy is committed to delivering clean energy to our customers in Virginia. This important project is expected to enhance grid reliability, a key requirement of the Virginia Clean Economy Act. We are excited to be partnering with East Point Energy on one of Virginia's largest battery energy storage projects to date" said Ricky Elder, III, Dominion Energy's Manager of Business Development.

"East Point was founded on the premise that renewable energy from sources like wind and solar are cost-effective but inherently intermittent," said Andrew Foukal, CEO of East Point Energy. "Therefore, energy storage is essential to enabling a renewable, resilient, and affordable electric grid. We would like to thank Dominion Energy for their strong partnership on this groundbreaking project."

About East Point Energy

East Point Energy is a leading energy storage project development firm located in Charlottesville, Virginia. East Point is developing over 2,000 megawatts of energy storage systems in various markets around the country, transforming the grid into a renewable, resilient, and affordable system for generations to come. For more information, visit https://eastpointenergy.com


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