10.02.2015: The largest power utility in the US, Duke Energy, announced it has agreed to acquire a majority stake in California-based solar installer REC Solar for an undisclosed sum. The company, which has not provided more details on the transaction, said it will additionally invests $225 million in commercial PV projects developed by REC Solar across the US. For all the projects, Duke Energy stressed, REC solar has already signed a PPA. According to the utility, REC Solar has installed approximately 140 MW of PV capacity in the US to date. In December, Duke Energy secured regulatory approval from the North Carolina Utilities Commission (NCUC) to acquire and construct three PV projects totaling 128 MW in eastern North Carolina. The three projects are part of Duke Energy’s $500 million solar expansion plan announced in September, which also includes buying power under PPAs from five other new solar projects in both the Duke Energy Carolinas and DEP service territories. Overall, Duke Energy’s expansion plan will see it add 278 MW of new solar capacity. © PHOTON
Monty Bannerman
ArcStar Energy
+1-646-402-5076
www.arcstarenergy.com
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