Domain Capital Group and its subsidiary Domain Timber have announced the sale of almost 1,300 acres of timberland to a utility in Richmond, Virginia, to develop a solar project on the land, a move that is said to help reduce carbon emissions in the area in addition to adding renewable energy.

Domain maintains a portfolio of more than 23,000 acres of timberland designated for renewable energy projects, mostly for solar and wind. Closing of this transaction keeps the company on track towards their projected 75 sales in 2023, which amounts to over 17,500 acres from their total inventory of 254,000 acres.

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Source: Environmental Leader

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