Duke Energy Buys 2 California Solar Farms

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Duke Energy Corporation announced Thursday that it has added two more 20 MW solar farms to its renewable ranks.

Duke bought the "construction ready" California facilities from Australia-based solar developer Infigen Energy. The two farms are Duke's third and fourth in the state, bringing Duke's total California solar capacity to 65 MW.

"The acquisition of Pumpjack and Wildwood will more than double our solar power capacity in California," said Duke Energy Renewables President Greg Wolf in a statement. "We're pleased to provide an increasing supply of affordable, clean energy to the nation's number one solar market."

As is most often the case with solar facilities, Duke has pre-arranged a 20-year power purchase agreement with Edison International's Southern California Edison utility to buy all its generated electricity.

Excluding these two new renewable energy acquisitions, Duke Energy also owns 21 solar facilities and 15 wind farms stretched across 12 states, with a total generating capacity of nearly 1,800 MW.

The article Duke Energy Buys 2 California Solar Farms originally appeared on Fool.com.

Justin Loiseau has no position in any stocks mentioned. 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 may not 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.

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