CHARLOTTE – Continuing to grow its renewable power sources, Duke Energy is buying a huge solar power complex being built near Austin, Texas.
The deal is with Recurrent Energy and represents the fifth sale made between the two firms.
Financial terms were not disclosed but the companies said Recurrent Energy, a subsidiary of Canadian Solar, had raised $234 million to finance construction.
The site, which covers 932 acres and will provide enough power for some 27,000 homes, is expected to go online by mid year.
Also part of the deal is a 15-year power purchase agreement with Austin Energy, the City of Austin’s electric utility.
Canadian Solar subsidiary Recurrent Energy has closed the sale of a 144MW photovoltaic project in Texas to Duke Energy Renewables.
The Pflugerville solar project, in Travis County, is under construction and is expected to achieve commercial operation in mid-2021.
The energy generated from Pflugerville will be sold to Austin Energy under a 15-year power purchase agreement (PPA).
It is the fifth utility-scale PV project that Duke Energy Renewables has acquired from Recurrent Energy, including the Rambler solar project in Texas, which reached commercial operation in 2020.
Canadian Solar chairman and CEO Shawn Qu said: “The execution and sales process for this project was disrupted due to the Covid pandemic.
Courtesy of Duke Energy
The project is under construction in Travis County, Texas, and is expected to achieve commercial operation in mid-2021. The energy generated from the Pflugerville Solar project will be sold to Austin Energy under a 15-year power purchase agreement.
This is the fifth utility-scale project that Duke Energy Renewables has acquired from Recurrent Energy, including the Rambler Solar project in Texas, which reached commercial operation in 2020.
“We’re excited to add this terrific project to our growing Texas solar portfolio to meet the increasing demand for power in the state and support our longstanding relationship with Austin Energy,” said Chris Fallon, president of Duke Energy Renewables.
December 16, 2020
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CHARLOTTE, N.C. – Duke Energy Foundation and Duke Energy Renewables have awarded the Maryneal Volunteer Fire Department with a $20,000 grant to help maintain the critical safety services it provides to the local businesses and residents of Maryneal, Texas, and its surrounding area.
“These funds will enable Maryneal Volunteer Fire Department to obtain the equipment necessary to enhance the fire suppression capabilities of our team of fire volunteers,” said Buster Muncy, assistant fire chief of Maryneal Volunteer Fire Department. “Our goal is to obtain a larger truck with 1,200-gallon capacity of water along with a pump and hoses necessary to distribute water on woodland fires in our response area. We are proud and grateful to partner with Duke Energy on this endeavor.”
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