This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Duke Energy Renewables Acquires Two Solar Projects From Infigen Energy, Adding 40 Megawatts To Its California Portfolio

CHARLOTTE, N.C., March 6, 2014 /PRNewswire/ -- Duke Energy Renewables, a commercial business unit of Duke Energy, today announced its acquisition of two 20-megawatt (MW) AC California solar projects from renewable energy developer Infigen Energy.

New Duke Energy logo.

The construction-ready Pumpjack and Wildwood Solar Power Projects, located in Kern County near Bakersfield, represent Duke Energy Renewables' third and fourth utility-scale solar power projects in the state. Once the projects are complete, the company will own and operate more than 65 megawatts of solar power in California.

"The acquisition of Pumpjack and Wildwood will more than double our solar power capacity in California," said Duke Energy Renewables President Greg Wolf. "We're pleased to provide an increasing supply of affordable, clean energy to the nation's number one solar market."

The solar energy generated from the two projects will be sold through 20-year power purchase agreements with Southern California Edison.

Infigen's U.S. CEO, Craig Carson, said, "We are very pleased that our first development efforts in solar PV have succeeded in bringing together strong counterparties such as Southern California Edison and Duke Energy. We expect that the experience gained and the relationships created through these solar projects will deliver significant benefits for our future development opportunities."

In 2013, Duke Energy Renewables built the 21-MW Highlander Solar Power Project in Twentynine Palms and acquired the 4.5-MW Sunset Reservoir project in San Francisco. Within the year, once Pumpjack and Wildwood reach commercial operation, the projects will push Duke Energy Renewables' total U.S. installed solar capacity to 185 MW at 23 utility-scale facilities across the country.

In 2011, INDU, a partnership between Duke Energy Renewables and Integrys Energy, constructed eight 1-MW rooftop solar projects in southern California.

About Duke Energy Renewables

Duke Energy Renewables, part of Duke Energy's Commercial Businesses, is a leader in developing innovative wind and solar energy generation projects for customers throughout the United States. The company's growing portfolio of commercial renewable assets includes 15 wind farms and 21 solar farms in operation in 12 states, totaling almost 1,800 megawatts in electric-generating capacity. Learn more at www.duke-energy.com/renewables.

Headquartered in Charlotte, N.C., Duke Energy is a Fortune 250 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available on the Internet at: www.duke-energy.com.

About Infigen Energy

Infigen Energy is a specialist renewable energy business. We have interests in 24 wind farms across Australia and the United States. With a total installed capacity in excess of 1,600MW (on an equity interest basis), we currently generate enough renewable energy per year to power over half a million households. As a fully integrated renewable energy business in Australia, we develop, build, own and operate energy generation assets and directly manage the sale of the electricity that we produce to a range of customers in the wholesale market.

Infigen Energy trades on the Australian Securities Exchange under the code IFN.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs