Duke Energy Renewables to Acquire Fourth Solar Project in Texas

9/12/19

By Maeve Sheehey, NC Biz News

Duke Energy Renewables, a subsidiary of Duke Energy, will acquire the Rambler solar project from Recurrent Energy, the company announced Thursday.

Energy from Rambler, a 200-megawatt solar project, will be sold to a customer under a 15-year agreement. The project will power the equivalent of 40,000 homes using clean energy, the company said in a press release.

Rambler will begin commercial operation in mid-2020 and is expected to employ 400 workers at peak construction.

Rambler will be located in Tom Green County, Texas, making this Duke Energy Renewables’ fourth solar facility in Texas. This project, which will have a 40-year life, is the company’s fifth acquisition this year. Duke Energy Renewables currently operates 3,000 megawatts of solar and wind projects.

“We’re pleased to continue our expansion of solar energy resources in Texas, which is seeing increasing demand for power,” Rob Caldwell, president of Duke Energy Renewables, said in a press release. “In addition to generating clean energy, this project will also bring significant economic benefits to the state.”

Recurrent Energy is a subsidiary of Canadian Solar Inc., a solar energy company based in Guelph, Ontario. Canadian Solar was founded in 2001 and has been publicly traded since 2006.

Duke Energy was trading at $94.87 on Thursday afternoon, up 41 cents.

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