Benzinga | Jan 27, 2022 08:36AM EST

Duke Energy's Solar Portfolio Grows In North Carolina With Addition Of 2 New Plants; Terms Not Disclosed

Continuing its efforts to grow renewable energy in North Carolina, Duke Energy Sustainable Solutions, a nonregulated commercial brand of Duke Energy (NYSE:DUK), recently began commercial operation of two major solar facilities in the state.

* The 50-megawatt (MW) Broad River Solar power plant in Cleveland County

* The 22.6-MW Speedway Solar power plant in Cabarrus County

"Even with the 2021 challenges of COVID-19 and supply chain constraints, our team remained focused and delivered these projects on time," said Chris Fallon, president of Duke Energy Sustainable Solutions. "We could not have completed these projects without the support of our vendors and the people of Cleveland and Cabarrus counties."

The facility's design, procurement of inverters, balance of plant systems and construction of the project were performed by Swinerton. The solar power generated by both projects will be delivered through 20-year power purchase agreements. Together, the projects can power about 15,000 homes during a year.

North Carolina is fourth in the nation for overall solar energy. The outlook is promising for more solar energy in the future with the passage of the Energy Solutions for North Carolina (HB951) law in 2021.

"Solar power is a major focus for Duke Energy as we target 70% carbon reduction by 2030 in North Carolina and net-zero carbon emissions by 2050 under HB951," said Stephen De May, Duke Energy's North Carolina president. "We expect solar to play a leading role in our clean energy future."