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Property, Plant and Equipment | 9 Months Ended
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Sep. 30, 2020
Property Plant And Equipment [Abstract] |
Property, Plant and Equipment | Note 11. Property, Plant and Equipment Acquisitions of Solar Projects Other than the items discussed below, there have been no updates to acquisitions of solar projects by the Companies from those discussed in Note 10 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2019. The following table presents acquisitions by Virginia Power of solar projects. Virginia Power expects to claim federal investment tax credits on the projects.
Date Agreement Entered |  | Date Agreement Closed |  | Project Location |  | Project Name |  | Project Cost (millions)(1) |  |  | Date of Commercial Operations |  | MW Capacity |
August 2018 |  | May 2019 |  | Virginia |  | Grasshopper |  | $ | 128 |  |  | October 2020 |  |  | 80 |
June 2019 |  | August 2019 |  | Virginia |  | Belcher |  |  | 160 |  |  | Expected 2021 |  |  | 88 |
May 2020 |  | May 2020 |  | Virginia |  | Pumpkinseed |  |  | 130 |  |  | Expected 2022 |  |  | 60 |
(1) | Includes acquisition cost.
The following table presents acquisitions by Dominion Energy of solar projects. Dominion Energy has claimed or expects to claim federal investment tax credits on the projects.
Date Agreement Entered |  | Date Agreement Closed |  | Project Location |  | Project Name |  | Project Cost (millions)(1) |  |  | Date of Commercial Operations |  | MW Capacity |
August 2019 |  | August 2019 |  | Virginia |  | Myrtle |  | $ | 32 |  |  | June 2020 |  |  | 15 |
May 2020 |  | May 2020 |  | South Carolina |  | Blackville |  |  | 15 |  |  | Expected 2020 |  |  | 7 |
May 2020 |  | May 2020 |  | South Carolina |  | Denmark |  |  | 15 |  |  | Expected 2020 |  |  | 6 |
May 2020 |  | August 2020 |  | South Carolina |  | Yemassee |  |  | 20 |  |  | Expected 2021 |  |  | 10 |
May 2020 |  | October 2020 |  | South Carolina |  | Trask |  |  | 25 |  |  | Expected 2021 |  |  | 12 |
June 2020 |  | June 2020 |  | Ohio |  | Hardin I |  |  | 255 |  |  | Expected 2020 |  |  | 150 |
July 2020 |  | July 2020 |  | Virginia |  | Madison |  |  | 125 |  |  | Expected 2022 |  |  | 63 |
August 2020 |  | Expected 2022 |  | Ohio |  | Hardin II |  |  | 295 |  |  | Expected 2023 |  |  | 150 |
(1) | Includes acquisition cost.
In addition to the facilities discussed above, Dominion Energy has also entered into various agreements to install solar facilities, primarily at schools in Virginia, with in-service dates in 2020 or 2021. Through October 2020, Dominion Energy anticipates a total projected cost of approximately $41 million under these agreements with an associated aggregate generation capacity of 20 MW. Dominion Energy has claimed or expects to claim federal investment tax credits on the projects. Acquisition of Gathering and Processing Assets In March 2020, Wexpro closed on an agreement with a natural gas gathering systems operator to purchase existing natural gas gathering systems including pipelines, compressors and dehydration equipment for total consideration of $38 million. These facilities gather natural gas in Colorado, Utah and Wyoming. Non-Wholly-Owned Merchant Solar Facilities In the third quarter of 2020, Dominion Energy performed a strategic review of its long-term intentions for its contracted merchant solar generation assets in partnerships outside of its core electric service territories in consideration of the impact of the VCEA and Dominion Energy’s decision to sell substantially all of its gas transmission and storage operations. Based on an evaluation of Dominion Energy’s interests in these long-lived assets for recoverability under a probability weighted approach, Dominion Energy determined the assets were impaired. As a result of this evaluation, Dominion Energy recorded a charge of $665 million ($293 million after-tax attributable to Dominion Energy and $267 million attributable to noncontrolling interest) in impairment of assets and other charges in its Consolidated Statements of Income for both the three and nine months ended September 30, 2020 to adjust the property, plant and equipment down to its estimated fair value of $1.4 billion. The fair value was estimated using an income approach. The valuation is considered a Level 3 fair value measurement due to the use of significant judgmental and unobservable inputs, including projected timing and amount of future cash flows and discount rates reflecting risks inherent in the future cash flows and market prices.

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=120429125&loc=d3e99893-112916 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=120429125&loc=SL120174063-112916 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 1 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120429125&loc=d3e99779-112916 + Details
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