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

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  • First NC solar farms announced by Duke Energy Renewables in 2016

  • Duke Energy Renewables now owns 27 solar facilities in North Carolina, representing 280 MW and an investment of about $725 million since 2011

CHARLOTTE, N.C. -- Duke Energy Renewables today announced it has acquired two 5-megawatt (MW) solar projects in Eastern North Carolina from ET Capital, a member of the ET Solar Group and lead developer of the projects.

The Hertford site, located in Hertford, Perquimans County, and the Long Farm project, in Garysburg, Northampton County, were completed in March and will collectively generate enough energy to power about 2,000 homes.

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

Power from the projects is being sold to Dominion NC Power under 15-year agreements.

Boris Schubert, CEO of ET Capital adds, "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."

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

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

Duke Energy has invested more than $4 billion in renewable energy and plans to invest another $3 billion over the next five years.

Images and video can be found on Duke Energy's News Center: http://news.duke-energy.com/

About Duke Energy Renewables
Duke Energy Renewables, part of Duke Energy's Commercial Portfolio, is a leader in developing innovative wind and solar energy generation projects for customers throughout the United States. The company's growing portfolio of commercial renewable assets includes 18 wind farms and 37 solar farms in operation in 12 states, totaling about 2,500 megawatts in electric-generating capacity. Learn more at www.duke-energy.com/renewables.

Headquartered in Charlotte, N.C., Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com

The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.

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About ET SolarCapital
ET SolarCapital is a global leading energy solutions provider. With access to innovative solar technologies and tailored financial solutions, ET SolarCapital provides professional one-stop solutions across the entire solar power plant lifecycle including development, financing, engineering, procurement, and construction, and operations & maintenance. To learn more about ET SolarCapital, please visit http://www.etsolar.com.

Contact: Tammie McGee