7X Energy sells 100-MW solar project in Texas to Duke Energy

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February 8 (Renewables Now) - Texas-based utility-scale solar developer 7X Energy Inc said today it has sold a 100-MW solar project in its home state to the renewables unit of Duke Energy (NYSE:DUK).

More specifically, the company has divested the Lapetus project in Andrews County to Duke Energy Renewables for an undisclosed sum. The particular solar park will be built on a roughly 800-acre site, with construction scheduled to start by the end of next month. Completion is seen by the end of 2019.

7X Energy noted that Duke Energy will manage construction and serve as the long-term owner and operator of the asset, which will be part of a larger project in Andrews County.

The scheme is expected to generate over USD 20 million (EUR 17.7m) in local property tax revenue. It has a power purchase agreement (PPA) in place under which Brazos Electric Power Cooperative Inc will buy the electricity on behalf of CoServ Electric and seven other distribution cooperative members.

(USD 1.0 = EUR 0.883)

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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