Duke Energy Renewables has acquired 60MW Palmer Solar project’s related development assets in El Paso County, Colorado, US.
The project has been acquired from Boulder-based renewable energy company juwi Americas. Financial details of the deal have not been divulged by either company.
The 60MW solar project, which will feature more than 200,000 solar panels, is currently being developed in partnership with Colorado Springs Utilities (CSU). Following construction, the facility will deliver energy to CSU’s customers under a 20-year agreement.
With this acquisition, Duke Energy Renewables’ solar project portfolio in Colorado increases to more than 70MW. The project will be interconnected with Colorado Springs Utilities’ transmission system.
Colorado Springs Utilities CEO Aram Benyamin said: “We are committed to offering our customers a clean, more diverse and affordable energy portfolio to power homes and businesses.
“The Palmer Solar project is one of the latest examples of how we are partnering with entities to change the way we power Colorado Springs, taking advantage of the economic and environmental benefits of solar power.”
The Palmer Solar project is expected to generate enough energy sufficient to power approximately 19,000 homes annually.
In addition to supplying clean energy, the Palmer Solar project is expected to create new employment opportunities in the region.
juwi’s subsidiary JSI Construction Group is the engineering, construction and procurement (EPC) contractor.
Duke Energy Renewables state that construction on the project has already started and is expected to be completed by the end of this year.