Duke Expands N.C. Solar Project

Before you go, we thought you'd like these...
Before you go close icon

Duke Energy announced today that it has begun construction on a 5 MW solar project in North Carolina, adding on to an initial farm to put total local solar capacity at 17.5 MW. 

Both solar farms in Beaufort County enjoy a 15-year power purchase agreement with the North Carolina Eastern Municipal Power Agency, allowing Duke Energy the flexibility to make its solar capital expenditures with confidence. The utility also owns six 1 MW facilities in western North Carolina.

The plant will be built by local solar company SunEnergy1 and is expected to be completed by the end of this year. According to SunEnergy1 CEO Kenny Habul, the two projects combined comprise North Carolina's largest solar facility.

Duke Energy currently operates 15 solar farms across 12 states and most recently bought a 4.5 MW project in downtown San Francisco.

The article Duke Expands N.C. Solar Project originally appeared on Fool.com.

Fool contributor Justin Loiseau has no position in any stocks mentioned. You can follow him on Twitter, @TMFJLo, and on Motley Fool CAPS, @TMFJLo. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Read Full Story

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

People are Reading