Duke Energy receives approval to build 5MW solar power plant in Orlando

Duke Energy Florida (NYSE: DUK) received approval to build, own and operate a 5-MW solar facility that will serve the Reedy Creek Improvement District near Orlando.

The Reedy Creek Improvement District Board of Supervisors voted to accept a 15-year power-purchase agreement with Duke Energy Florida Solar Solutions, a subsidiary of Duke Energy Florida, to purchase solar energy from the facility.

The project will occupy approximately 20 acres near World Drive and Epcot Center Drive at Walt Disney World Resort. Additionally, the facility's 48,000 solar panels will be arranged in the shape of a Disney-inspired design.

Construction is expected to begin mid-summer with the facility to be in service by year end.

In April, the company announced plans to build up to 500-MW of solar by 2024 as part of a 10-year plan.

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