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April 24, 2019

Duke Energy Renewables acquires North Rosamond solar project

Duke Energy Renewables has completed the acquisition of 150MW North Rosamond solar project from Clearway Energy Group for an undisclosed amount.

Duke Energy Renewables has completed the acquisition of 150MW North Rosamond solar project from Clearway Energy Group for an undisclosed amount.

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It will be the sixth solar power generation facility acquired by Duke Energy Renewables in Kern County, California.

Duke Energy Renewables president Rob Caldwell said: “North Rosamond is a great addition to our growing solar portfolio.

“California is a leader in renewable energy, and we’re pleased to support their efforts by continuing to provide the state with cost-efficient renewable energy to meet residents’ needs.”

The project received tax equity financing from US Bank’s tax credit division and the US Bancorp Community Development Corporation.

“We’re pleased to support California’s efforts by continuing to provide the state with cost-efficient renewable energy to meet residents’ needs.”

M&T Bank’s Commercial Equipment Finance Group and Guardian Life Insurance Company of America also provided financing to the project.

Located outside of Rosamond, California, the solar facility is equipped with more than 477,000 solar panels.

With the capacity to power nearly 71,000 homes in the region, the facility is expected to begin operations next month and will be the largest solar project in Duke Energy Renewables’ fleet.

Solar energy generated from the facility will be sold to Southern California Edison under a 15-year agreement.

First Solar Electric’s California-based engineering, procurement and construction (EPC) subsidiary has been contracted for the facility’s design, procurement of photovoltaic (PV) modules, inverters, the balance of plant systems and construction works of the project.

Duke Energy is set to own or purchase 8,000MW wind, solar and biomass energy by 2020.

 

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The development of the hydrogen economy will support the fulfilment of decarbonization objectives, particularly for those sectors that are difficult to electrify, such as heavy industry, long-distance trucking, shipping, and aviation. GlobalData's Hydrogen Service tracks investment in the hydrogen sector, and provides you with:
  • A complete dataset of the low-carbon hydrogen projects across the globe.
  • Latest news across the hydrogen value chain.
  • Quarterly market analysis, with details of new projects, company activity and financial deals.
For more information, and to download sample pages from our quarterly market analysis, including a summary of the active and upcoming low-carbon hydrogen capacity by region, please enter your details.
by GlobalData
Enter your details here to receive your free Whitepaper.

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