Duke has acquired majority ownership of REC Solar, an California-based company that sells and finances commercial-size solar arrays, according to an article in GuruFocus. REC Solar is projected to producing 82 million kilowatt hours yearly in North Carolina, approximately enough to power about 6,500 homes.
According to the article:
Duke plans to invest up to $225 million in REC Solar’s commercial projects. … Duke Energy’s current generation capacity from renewable resources is around 10% … With this partnership with REC Solar, Duke Energy considers itself right on track with its plan of expansion by owning or contracting 6,000 MW of wind, solar and biomass by 2020.
Read the article here.
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