Duke Energy Renewables has acquired ‘The Sunset Resovoir’ 3.5MW solar project in San Francisco from developers Recurrent Energy.
The project was developed, and has been operated by Recurrent Energy since 2010 and is made up of 24,000 solar panels on top of the Sunset Reservoir.
Power generated by the project will be purchased by the San Francisco Public Utilities Commission (SFPUC) in a 25-year power purchase agreement (PPA).
Harlan Kelly Jr, general manager of the SFPUC, said the project would triple San Francisco’s solar generation, and helps to power “public buses, the San Francisco International Airport, health clinics, and other vital city services”.
“This agreement with Duke Energy Renewables shows the continued movement of solar into mainstream power,” said Arno Harris, CEO, Recurrent Energy. “Investment in the Sunset Reservoir project further shows solar's ability to attract capital from conventional energy investors.”
Duke Energy Renewables president Greg Wolf said the project would help contribute to the city’s and the state’s renewable energy goals and that Duke Energy is looking forward to “being a positive presence” in the community. The Sunset Reservoir project adds to Duke Energy Renewables' 100MW of generating capacity at 16 solar farms. Since 2007 Duke Energy has invested more than US$3 billion in the commercial wind and solar business.
