Duke Energy Renewables has bought two utility-scale PV systems in Arizona from Recurrent Energy.
The total capacity of the two systems is 20MW and the electricity generated will be sold to Arizona Public Service under a 25-year power purchase agreement. Further financial terms were not disclosed.
One of the systems, the 5MW Ajo Solar project, is already operational, while the other, the 15MW Baghdad Solar Project, is scheduled to come online by the end of the month. AMEC designed and built the both systems and is also responsible for their operation and maintenance.
“This acquisition puts Duke Energy in a position to help Arizona's largest and longest-serving energy service provider deliver even more affordable, zero-emission renewable power to its customers,” Duke Energy Renewables president Greg Wolf said. “For Duke Energy, this landmark deal doubles our portfolio of commercial solar projects in operation and instantly expands our footprint to the western United States.”
“These projects represent an important step in realising our mission to establish solar as a mainstream source of electricity,” added Recurrent Energy CEO Arno Harris. “We're thrilled to have a partner of Duke Energy's calibre step into the ownership role for these innovative solar projects.”
The Ajo and Bagdad systems are the latest additions to Duke’s burgeoning solar portfolio. To date, it has invested more than US$1.75 billion in its renewable division, which presently includes a 14MW farm in San Antonio, a 6MW project in Orlando and five 1MW sites in North Carolina.