July 12 (Renewables Now) - The Florida Public Service Commission (PSC) has approved a cost recovery plan for 194.4 MW of solar projects proposed by utility Duke Energy (NYSE:DUK).
According to the PSC, the three solar projects are cost effective and meet the provisions of its 2017 Settlement Agreement. As a result, Duke Energy will be able to recover costs for the projects by adding them to its rate base. The amount to be recouped is expected to be around USD 32 million (EUR 28.4m) a year, the regulator said earlier this week.
The plants will be installed as part of Duke Energy Florida's commitment to build or buy 700 MW of solar power capacity in the Sunshine State through 2022. More specifically, the 74.9-MW Trenton solar park in Gilchrist County and the 45-MW Lake Placid plant in Highlands County will be switched on in December. The last photovoltaic (PV) park, the 74.5-MW DeBary Generating Station, will be located in Volusia County and will become operational by the first quarter of 2020.
(USD 1.0 = EUR 0.887)