By The Business Journal of the Greater Triad Area

Duke Energy and Beltsville, Md.-based solar energy services provider SunEdison announced Wednesday that a solar farm in Davidson County is complete.

The farm, which covers 200 acres of land, will create enough energy to power more than 2,600 homes a year.

With 63,000 photovoltaic ­­ solar panels, it⿿s the second largest active solar photovoltaic deployment on the East Coast.

⿿Solar energy continues to increase in its importance to N.C. customers,⿝ said Brett Carter, president of Duke Energy North Carolina, in a statement. ⿿Partnerships, like the one with SunEdison, have allowed Duke Energy to comply with North Carolina⿿s solar requirements in a cost-effective way.⿝

MetLife and Bank of America Merrill Lynch provided lease financing for the project. A SunEdison spokesman declined to release terms of the financing.

⿿This project adds to the list of financing we⿿ve provided as part of Bank of America⿿s 10-year, $20 billion business initiative focused on addressing climate change,⿝ said Todd Karas, president of Banc of America Public Capital Corp., in a statement.

SunEdison will be responsible for the 20-year ongoing maintenance and monitoring of the system.

Earlier this month, Duke Energy reached a deal to buy Progress Energy for $26 billion in a transaction that would create the countryâ¿¿s largest utility company, based on power capacity and new customers. Duke has nearly 900 Triad employees.

Copyright 2011 American City Business Journals

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