Now that the winning projects are selected, Duke Energy and the winning bidders will execute contracts for the projects over the next few months. Image: Duke Energy
Following an independent evaluation process, Duke Energy is set to produce or purchase a total of 602MW of renewable energy from projects under North Carolina’s Competitive Procurement of Renewable Energy (CPRE) programme.
Per independent administrator Accion Group, customers in the Carolinas will see savings of around $375 million over the 20-year contract period featuring these projects.
Accion Group’s Harry Judd noted: “There was robust interest in the CPRE program, and the selected projects will provide 20 years of cost-effective energy to the Duke Energy system. Given the response, we are expecting the next phase of the program to also bring cost savings to customers.”
The 14 projects stand as the most competitive of the 78 that were initially submitted during an independently judged bidding process, which was part of a 2017 comprehensive renewable energy law. This selection process was approved by the North Carolina Utilities Commission (NCUC) to select projects that would deliver the greatest cost and system benefits to customers.
Now that the winning projects are selected, Duke Energy and the winning bidders will execute contracts for the projects over the next few months. Most of the projects are expected to come online by the end of 2020. In total, 10 projects were selected from North Carolina and four projects will be developed from South Carolina. Two projects selected will include battery storage with the PV installation.
In total, Duke Energy will directly develop six PV project and purchase the remaining eight from other developers. Of those six projects that will be developed by Duke Energy, five will be newly constructed.
The six projects set to be developed by Duke Energy are:
Duke Energy Carolinas: 69MW – Catawba County, N.C.
Duke Energy Carolinas: 25MW – Gaston County, N.C.
Duke Energy Renewables: 50MW – Cleveland County, N.C.
Duke Energy Renewables: 22.6MW – Surry County, N.C.
Duke Energy Renewables: 22.6MW – Cabarrus/Stanly counties, N.C.
Duke Energy Progress: 80MW – Onslow County, N.C.