Duke Energy buys Arizona solar farm from Solon Corp.

Charlotte, N.C., May 2, 2012 — Duke Energy Renewables has acquired a 10 MW utility-scale solar project near Kingman, Ariz., from Solon Corp.

The Black Mountain Solar Project under construction in Mohave County is expected to achieve commercial operation in October 2012. UniSource Energy Services will purchase the power generated at the Black Mountain site through a 20-year power purchase agreement.

Duke Energy Renewables, part of Duke Energy's Commercial Businesses, purchased the photovoltaic project from Solon Corp., one of the largest solar power plant developers in the U.S. Financial terms were not disclosed.

Solon designed the solar array, powered by Solon's single-axis tracking technology, and will construct and continue to handle operations, monitoring and maintenance of the system after it is commissioned.

Duke Energy Renewables already owns two other solar facilities in the state: the 4-MW Ajo Solar Farm in Pima County and the 15-MW Bagdad Solar Farm in Yavapai County.

Black Mountain is Duke Energy Renewables' 12th wholly owned commercial solar farm. Since 2007, Duke Energy has invested more than $2.5 billion to grow its commercial wind and solar business lines.

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