Duke Energy acquires two NC solar power projects from ET Capital

Source: Duke Energy Renewables




Duke Energy Renewables now owns 27 solar power facilities in North Carolina, representing 280 MW and an investment of about $725 million since 2011.

Duke Energy Renewables today announced it has acquired two 5-megawatt (MW) solar power projects in Eastern North Carolina from ET Capital, a member of the ET Solar Group and lead developer of the projects.

The Hertford site, located in Hertford, Perquimans County, and the Long Farm project, in Garysburg, Northampton County, were completed in March and will collectively generate enough energy to power about 2,000 homes.






"Providing the benefits of renewable energy and opportunities for local economic development in the state are important to Duke Energy," said Greg Wolf, president, Duke Energy Commercial Portfolio. "We are pleased to add these projects from ET Capital to our growing solar portfolio in Eastern North Carolina."

Power from the projects is being sold to Dominion NC Power under 15-year agreements.

Boris Schubert, CEO of ET Capital adds, "We thank Duke for being a trusted partner as well as a champion for renewable energy. This project completion is another example of how our partners can rely on ET Capital's co-development platform to execute projects efficiently from inception to commercial operation."

The 44,631 305-W modules for the two sites were supplied by ET Solar Group.

To date, Duke Energy companies have installed more than 400 MW of solar energy in North Carolina, enough to power about 80,000 average homes.

Duke Energy has invested more than $4 billion in renewable energy and plans to invest another $3 billion over the next five years.



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