Solar power purchase agreement formed between Duke Energy, NCMPA1

April 20, 2010

Source: Duke Energy

North Carolina Municipal Power Agency Number 1 (NCMPA1) and its 19 member organizations will soon provide solar energy produced by a photovoltaic project recently acquired by a Duke Energy (DUK) commercial business unit.

NCMPA1, which serves the city of Shelby, will buy all of the output from the one MW Shelby Solar Project under the terms of a 20-year power purchase agreement with Duke Energy Generation Services (DEGS), a Duke Energy Commercial Businesses unit.

NCMPA1 will also receive all associated renewable energy credits (RECs) from the project. These RECs help the power agency meet the N.C. Renewable Energy and Energy Efficiency Portfolio Standard requirement to obtain 0.2 percent of its energy through solar resources by 2018.

The city of Shelby is providing the land for the project, which will be located near the Shelby-Cleveland County Regional Airport. The Shelby City Council has approved leasing the 10-acre site for the project.

The Shelby Solar Project will be DEGS' first renewable energy facility in North Carolina.

DEGS acquired the project from SunPower Corp. (SPWRA) (SPWRB) , a manufacturer of high-efficiency solar cells, solar panels and solar systems, which designed and is installing the photovoltaic system at the Shelby site. The project, which will consist of 4,500 ground-mounted crystalline silicon panels, will use SunPower Tracker technology. The Tracker uses a global positioning satellite system to follow the sun's movement during the day, increasing sunlight capture by up to 25 percent over conventional fixed-tilt systems, while significantly reducing land use requirements.

The Shelby Solar Project is expected to be completed and energized by late May 2010. The facility's one MW direct current output - equivalent to 0.94 MW alternating current - will generate enough electricity to power approximately 140 homes on an annual basis.

No financial terms were disclosed.

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