Duke Energy Renewables Acquires Three North Carolina Solar Farms

Duke Energy Renewables has acquired three 1-megawatt (MW) commercial solar projects in the southwestern corner of the state. The company now owns seven commercial solar farms in North Carolina.

Duke Energy Renewables, part of Duke Energy’s Commercial Businesses, purchased the portfolio of photovoltaic (PV) projects from ESA Renewables, LLC, which designed and built the generation sites. The portfolio consists of:

1. The 4,298-panel Murphy Farm Solar Project, which is sited on approximately eight acres of purchased land and achieved commercial operation in May
2. The 4,340-panel Wingate Solar Project, which is sited on approximately seven acres of purchased land and achieved commercial operation in August
3. The 4,242-panel Holiness Solar Project, which is sited on approximately nine acres of purchased land and achieved commercial operation in November

The power from each of the newly acquired solar farms is sold through Blue Ridge Mountain EMC to the Tennessee Valley Authority, as part of TVA’s Generation Partners(SM) program. The length of the power purchase agreements is 10 years. TVA will also receive the renewable energy certificates (RECs) created by the projects.

The projects are located in or near the town of Murphy, N.C. Canadian Solar manufactured all of the panels installed at the sites. ESA Renewables will handle operations, monitoring and maintenance at each of the solar farms.

The three projects join Duke Energy Renewables’ other commercial solar farms in the state: the 1-MW Shelby Solar Project, the 1-MW Taylorsville Solar Project, the 1-MW Martins Creek Solar Project, and the under-construction 5-MW Murfreesboro Solar Project.

Duke Energy Renewables acquired the Martins Creek Solar Project in Murphy from ESA Renewables ( www.esarenewables.com ) in April 2011. That project, which is sited on the grounds of the Martins Creek Elementary School, generates enough electricity to power more than 150 average-sized homes and enough revenue for the district to staff approximately two full-time teachers.

All of Duke Energy Renewables’ commercial solar farms are located outside of Duke Energy’s regulated service territories in North Carolina.

About Duke Energy Renewables

Duke Energy Renewables, part of Duke Energy’s Commercial Businesses, is a leader in developing innovative wind and solar energy solutions for customers throughout the United States. The company’s growing portfolio of commercial renewable assets includes 10 wind farms and four solar farms in operation in six states, totaling approximately 1,000 megawatts in electric-generating capacity. Learn more at www.duke-energy.com/renewables .

Headquartered in Charlotte, N.C., Duke Energy /quotes/zigman/413175/quotes/nls/duk DUK -0.48% is a Fortune 500 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available on the Internet at: www.duke-energy.com .

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Posted by Tracey A. Smith on Nov 15 2011. Filed under Green Power, North Carolina, Press Releases, Projects and Installations, Renewable Energy News, Solar Investment, Solar PV, U.S.. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry