Duke Energy Expands Its Solar Portfolio with Two Projects from ET Capital

By Anca Gagiuc, Associate Editor

Duke Energy Renewables acquires two North Carolina solar projects from ET Capital

Charlotte, N.C.—Duke Energy Renewables announced it has acquired two 5-megawatt solar farms in Eastern North Carolina from ET Capital, a member of the ET Solar Group and lead developer of the projects. The price tag of the transaction was not disclosed.

The facilities are a Hertford site, located in Hertford, Perquimans County, and a Long Farm project, located in Garysburg, Northampton County; both were completed in March and will collectively generate sufficient energy to power about 2,000 homes. Power from the projects is being sold to Dominion NC Power under 15-year agreements.

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

“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,” said Boris Schubert, CEO of ET Capital.

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

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

Image courtesy of Duke Energy