Duke Energy Renewables taps Goldman Sachs for $109m investment

It will use the investment over 18 months to support around 75MW of solar and battery storage projects

A subsidiary of Duke Energy has closed an investment of $109.4 million (£84m) from Goldman Sachs to fund a portfolio of renewable energy projects.

Duke Energy Renewables will use the investment over 18 months to support around 75MW of solar and battery storage projects, which will be developed and built by its REC Solar business unit.

They will feature both ground-mounted and rooftop commercial and industrial projects as well as community solar projects across several states including Arizona, California, Colorado, Hawaii, Massachusetts and Texas.

Electricity will be provided to a wide range of private and public sector customers through long term power purchase agreements (PPAs).

Chris Fallon, President of Duke Energy Renewables said: “Goldman Sachs’ investment will support Duke Energy Renewables’ continued growth in the distributed energy space, which will further our goals of delivering long term value to customers and investors.

“This is just one more way we’re providing reliable and cost-effective renewable energy to businesses and communities across the United States.”

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