Duke Energy has acquired full ownership of California-based REC Solar — a provider of renewable energy solutions for commercial customers throughout the US.
Previously, Duke Energy acquired a majority interest in REC Solar in February 2015. Duke Energy purchased the remaining shares of REC Solar in a cash transaction, while details were not disclosed.
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Going forward, REC Solar will continue to be a part of Duke Energy Renewables — Duke Energy's commercial renewables organization. Duke Energy Renewables' experience in off-site solar and wind energy generation, microgrid, battery storage and other emerging technologies, will enhance REC's onsite solar service.
Chris Fallon, vice president of Duke Energy Renewables and Commercial Portfolio, said: “REC Solar complements our strengths in forming strategic partnerships with customers of all sizes. Energy solutions specifically tailored to the commercial consumer will expand renewable energy opportunities for enterprise, municipal, educational and business customers, large and small.”