Duke Energy selling 18.7 MW of small hydro in Carolinas

Duke Energy Carolinas (DEC) announced last week it will sell five small hydroelectric plants with a combined capacity of 18.7 MW to power producer Northbrook Energy following a competitive bidding process.

The transaction concerns the Bryson, Franklin and Mission facilities in the Nantahala area, as well as the Tuxedo and Gaston Shoals plants in the Green/Broad River Basin. Their sale is subject to clearance from the Federal Energy Regulatory Commission (FERC) and other regulators. It is expected to close in the first quarter of next year.

The subsidiary of Duke Energy (NYSE:DUK) will be buying the electricity generated by the five plants for five years following the sale.

"Over the past few years, the cost to operate these facilities has risen significantly. Through this transaction, the plants will continue to serve our customers with clean renewable energy, but at a lower cost," explained Randy Herrin, Duke Energy Vice President, Carolinas Regulated Renewables.

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