The Tar Heel State has just activated the final phases of a new 17.2MW (DC) solar farm in Davidson County, courtesy of a partnership between Duke Energy and SunEdison. The solar project was built in five phases on over 200 acres of land using more than 63,000 solar PV panels. It is anticipated the plant will produce 28 million kWh of solar-generated electricity per year.
SunEdison and Duke Energy collaborated on a solar energy service agreement where SunEdison, which designed and installed the project, will manage the solar farms operations and maintenance. Financing was conducted through a lease finance by MetLife and Bank of America Merrill Lynch.
“Solar energy continues to increase in its importance to North Carolina customers,” said Brett Carter, president of Duke Energy North Carolina. “Partnerships, like the one with SunEdison, have allowed Duke Energy to comply with North Carolina's solar requirements in a cost-effective way.”