Will Duke Energy (DUK) Stock Be Helped By New Solar Energy Project?

NEW YORK (TheStreet) -- Duke Energy Corp.'s  (DUK) Duke Energy Renewables will build a three-site solar energy project in North Carolina that its designer says will be the largest east of the Mississippi, and will sell the power to institutions in Washington, D.C., the Charlotte Observer reports

Duke said the Capital Partners project will total 52 megawatts. George Washington University, American University and George Washington University Hospital will buy the electricity under a 20-year purchase agreement that the buyers said is the nation's largest, by megawatt-hours, that is not with a utility.

The first 20-megawatt site will be built this year in Pasquotank County in North Carolina's northeastern corner.

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TheStreet Ratings team rates DUKE ENERGY CORP as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:

"We rate DUKE ENERGY CORP (DUK) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income."

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