Skip to content

Go West! Duke Energy Renewables Acquires 10 MW Solar Project In Arizona

May 2, 2012

Despite not directly serving any residential customers west of Kentucky, Duke Energy Renewables (DUK :NYSE) has purchased another solar farm in Arizona. The latest acquisition, the 10 megawatt (MW) Black Mountain Solar Project in Mohave County, comes from large-scale photovoltaic solutions provider SOLON Corporation.

Financial terms of the deal were not disclosed.

The Tuscon-based Solon will provide the panels, their single-axis tracking technology, and the operations, monitoring, and maintenance of the system once they have completed the installation. The solar farm is expected to go online in October of this year.

For Duke Energy Renewables, this will be their third solar plant in Arizona. They currently own the 4 MW Ajo Solar Farm in Pima County and the 15 MW Bagdad Solar Farm in Yavapai County which were purchased in December 2011. The Arizona Public Service Co. is purchasing the power generated from both of the plants under 25-year power purchase agreements.

Shares of Duke Energy were down 0.28 percent in afternoon trading.

No comments yet

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: