Duke Energy is leveraging its ownership of the Top of the World Windpower Project in operation near Casper, Wyoming, to finance continued investments in renewable power.
Duke Energy Generation Services (DEGS), a Duke Energy Commercial Businesses unit that develops and owns renewable power assets, secured roughly $231 million in non-recourse credit facilities. This figure includes an 18-year term loan worth approximately $193 million, and nearly $38 million in letters of credit.
The 200-megawatt (MW) Top of the World wind farm consists of 66 General Electric wind turbines (each capable of producing 1.5 MW) and 44 Siemens turbines (each capable of producing 2.3 MW). Top of the World achieved commercial operation in October 2010. All of the renewable energy generated at the site is sold to PacifiCorp under a 20-year power purchase agreement. Read more
Kit Carson photos on Flickr
With Duke Energy’s Kit Carson Windpower Project in eastern Colorado now on line and producing electricity, the company has nearly 1,000 megawatts of wind generation capacity in operation at nine U.S. wind farms.
All of the output from the Kit Carson site will serve customers of Tri-State Generation and Transmission’s member electric cooperatives and public power districts through a 20-year power purchase agreement. Kit Carson consists of 34 General Electric wind turbines capable of producing 1.5 megawatts (MW) each, for a total of 51 MW. Construction at the 6,000-acre wind farm northwest of Burlington, Colo., began earlier this year and the facility achieved commercial operation on Nov. 19. Read more
Duke Energy and Tokyo-based ITOCHU Corp. signed an agreement today to collaborate on advanced energy technologies, starting with the evaluation and testing of second-life applications for electric vehicle batteries.
According to some auto industry estimates, electric vehicle (EV) batteries that can no longer charge to approximately 80 percent of their original capacity may be candidates for replacement. Duke Energy and ITOCHU believe batteries that become unsuitable for use in EVs could live on in other applications. Reuse possibilities for these batteries include providing a supplemental home energy supply, storing renewable power and providing a fast-charging power source for EVs. Read more
STATESVILLE, N.C. – Solar energy is now helping power homes and businesses served by electric cooperative EnergyUnited, thanks to a new photovoltaic solar farm in Taylorsville, N.C., that Duke Energy Generation Services (DEGS) recently acquired from SunEdison.
EnergyUnited, which serves residents of Alexander County and 19 other counties in the state, will buy all of the output from the one-megawatt (MW) solar facility under the terms of a 20-year power purchase agreement with DEGS, a Duke Energy Commercial Businesses unit. The solar farm began generating renewable power in early October 2010. Read more.
Duke Energy, Integrys Energy Services and Smart Energy Capital today announced the launch of a partnership to build and finance distributed solar projects throughout the United States.
Through the partnership, Duke Energy Generation Services (DEGS) and Integrys Energy Services (Integrys) will focus on jointly owning rooftop and smaller ground-mounted photovoltaic (PV) solar projects that deliver electricity to investment-grade commercial, government and utility customers under long-term power purchase agreements. Smart Energy Capital will develop the projects and arrange financing, enabling DEGS and Integrys to create a streamlined, end-to-end approach to bringing solar projects to market.
“What makes this partnership unique in the marketplace is its focus on distributed solar solutions that produce renewable electricity close to where it is used, rather than at centralized power plants,” said Greg Wolf, DEGS senior vice president and head of the unit’s commercial solar business. “The companies involved bring a wealth of project development, construction, management and financing expertise to the partnership.” Read more
Duke Energy’s Top of the World Windpower Project near Casper, Wyo., is now on line and producing clean, renewable electricity.
The 200-megawatt (MW) wind farm, located in Converse County, supplies wind energy to PacifiCorp under the terms of a 20-year power purchase agreement. The 110 wind turbines that comprise the Top of the World project are capable of producing enough electricity to power approximately 60,000 homes.
With Top of the World now producing electricity, Duke Energy has 935 MW of wind power in commercial operation. This figure will rise to nearly 1,000 MW later this year when the 51-MW Kit Carson Windpower Project in eastern Colorado comes on line. In total, Duke Energy has committed more than $1 billion since 2007 to build its wind power business. Read more
Duke Energy Carolinas will no longer pursue a plan to place up to three demonstration wind turbines in the Pamlico Sound.
Instead, the company and the University of North Carolina at Chapel Hill will refocus their collaboration to study and help enable large-scale offshore wind development on the ocean side of the North Carolina coast.
Since the project was announced in September 2009, in-depth analysis and engineering have been conducted. Duke Energy concluded that the fixed costs associated with permitting, design and construction of the small-scale coastal wind demonstration project were no longer economically viable. Read more
For the second time in three weeks, Duke Energy announced the financing of assets in its commercial renewable power portfolio to help fund investments in additional clean energy projects.
Duke Energy Generation Services (DEGS), a Duke Energy Commercial Businesses unit that owns and develops renewable power assets, has raised approximately $45 million by leveraging its ownership of the 14-megawatt (16-megawatt direct current) Blue Wing Solar Project, currently under construction in San Antonio, Texas. Prudential Capital Group provided the 25-year loan. Read more
View and download project photos on Flickr
A one-megawatt solar power project owned and operated by a Duke Energy commercial business unit is now producing clean, renewable electricity for North Carolina Municipal Power Agency Number 1 (NCMPA1), which serves the city of Shelby, N.C. Read more
Duke Energy is leveraging its interests in five of its commercial wind farms to finance continued investments in renewable power.
Duke Energy Generation Services (DEGS), a Duke Energy Commercial Businesses unit that owns and develops renewable power assets, financed a portfolio of wind farms through an affiliate, Green Frontier Windpower Holdings LLC, that includes:
- The 29-megawatt (MW) Happy Jack Windpower Project in Cheyenne, Wyo., which has 14 Suzlon wind turbines in operation
- The 42-MW Silver Sage Windpower Project in Cheyenne, Wyo., which has 20 Suzlon wind turbines in operation
- The 70-MW North Allegheny Windpower Project in Blair and Cambria counties, Penn., which has 35 Gamesa wind turbines in operation
- The 99-MW Campbell Hill Windpower Project near Casper, Wyo., which has 66 General Electric wind turbines in operation
- The 51-MW Kit Carson Windpower Project in Burlington, Colo., which has 34 G.E. wind turbines that will come on line in the fourth quarter of 2010 Read more
