Dive Brief:
- Duke Energy Renewables, Duke's unregulated renewables development subsidiary, has purchased the development rights to an 80 MW solar project located in eastern North Carolina, continuing the company's expansion into green energy.
- The Conetoe facility, originally developed by SolarEnergy1, is planned for an almost 600-acre parcel of land and Charlotte Business Journal reports it will produce an estimated 91 million KWh annually.
- Duke has made several moves in the solar industry recently, including announcing a 500 MW facility in Florida and more than 50 MW of community solar in South Carolina.
Dive Insight:
Duke Energy is continuing its expansion into renewable generation, and has purchased development rights to a solar facility in North Carolina, according to Charlotte Business Journal. While the company is not disclosing the purchase price, SolarEnergy1 previously indicated it would cost just north of $200 million to develop the facility.
It is the second project Duke has purchased from SolarEnergy1 this year, and tacks on to a growing list of renewable projects the company is involved with. The company reached a deal in May to increase the amount of solar generation in South Carolina, including a contract for more than 50 MW of community solar capacity. And in April, the company indicated it would develop 500 MW of solar in Florida.
Duke's solar investments are tied to the retirement of large amounts of coal-fired generation. The company said its Florida proposal would help enable the company meet a significant need for additional generation beginning in 2018 and retire half of its Florida coal-fired fleet by that same year.
Perhaps anotther deal is in the making as well: Charlotte Business Journal also notes that SolarEnergy1 has filed to develop another 80 MW facility, this one in Gates County, N.C., dubbed Hobbsville Solar.
Duke Energy Renewables is a part of Duke Energy's commercial businesses, and owns and operates about 1,700 MW of renewable energy, including 1,600 MW of wind power.
