January 16 (Renewables Now) - US utility Duke Energy (NYSE: DUK) said on Wednesday it has finalised the acquisition of a 20-MW solar project portfolio in Georgia that will be fully operational by the end of March.
Through Duke Energy Renewables' distributed generation arm REC Solar, the company has acquired the last project of the portfolio that consists of already operational and under-construction assets. Each of the nine schemes was developed under an engineering, production and procurement (EPC) contract between REC Solar and Inman Solar Inc.
With individual capacities ranging between 1.7 MW and 2.6 MW, the solar plants will use a total of 81,060 photovoltaic (PV) panels and will operate under long-term power purchase agreements (PPAs) with Georgia Power. The utility will buy their output and renewable attributes under its Renewable Energy Development Initiative (REDI).
Following the latest acquisition, Duke Energy Renewables has expanded its portfolio of distributed solar projects in Georgia to 47.4 MW.