CHARLOTTE, N.C., Aug. 14, 2017 /PRNewswire/ -- In its continuing
efforts to bring affordable, renewable energy to customers across
the United States, Duke Energy
Renewables is acquiring the 24.9-megawatt (MW) Shoreham Solar
Commons project on Long Island
from Invenergy.
The project, currently under construction by Invenergy, is
located in Brookhaven, New York,
about 60 miles east of Manhattan.
It is being built on the grounds of the former Tallgrass Golf
Course and is expected to be complete in the second quarter of
2018.
The Long Island Power Authority (LIPA) will purchase the power
under a 20-year agreement.
"We are excited to enter New
York with a renewables project that offers many benefits to
the state and local community," said Rob
Caldwell, president, Duke Energy Renewables and Distributed
Energy Technology. "The solar project will help meet the energy
needs of LIPA's customers while delivering tremendous economic and
environmental benefits."
The project is expected to create more than 175 local jobs
during construction and generate between $700,000 and $900,000 in annual tax revenue for
the local community.
The energy generated from this project is estimated to displace
29,000 tons of greenhouse gas emissions annually and create nearly
1 million megawatt-hours of clean, renewable energy over its
lifetime. Also, with the redevelopment, Invenergy is planting an
additional 2,000 trees on the site.
"Duke Energy has a reputation of excellence and we are pleased
to help them and their stakeholders meet the increasing demand for
affordable, renewable energy," said Invenergy's EVP and Chief
Development Officer Bryan Schueler.
"Repurposing the former Tallgrass Golf Course into a solar site
eliminates the use of pesticides and fertilizers on the property,
protecting Long Island's fresh
water aquifer and providing environmental benefits in addition to
the generation of renewable energy."
Invenergy recently closed construction financing for the project
with MUFG, the administrative agent and lead arranger.
Duke Energy Renewables will close on the transaction
post-construction, pending federal and local approvals.
Duke Energy Renewables
Duke Energy Renewables
primarily acquires, develops, builds and operates wind and solar
renewable generation throughout the continental U.S. The portfolio
includes nonregulated renewable energy and energy storage
assets.
Duke Energy Renewables' renewable energy includes utility-scale
wind and solar generation assets which total 2,900 MW across 14
states from 20 commercial wind and 63 solar projects. The power
produced from renewable generation is primarily sold through
long-term contracts to utilities, electric cooperatives,
municipalities and commercial and industrial customers. Learn more
at https://www.duke-energy.com/renewable
Follow Duke Energy (NYSE: DUK) on Twitter, LinkedIn, Instagram
and Facebook.
About Invenergy
Invenergy drives innovation in energy. Invenergy and its affiliated
companies develop, own, and operate large-scale renewable and other
clean energy generation and storage facilities in the Americas,
Europe and Asia. Invenergy's home office is located in
Chicago and it has regional
development offices in the United
States, Canada,
Mexico, Japan, Poland
and Scotland.
Invenergy has developed more than 15,900 megawatts of projects
that are in operation, construction or contracted, including wind,
solar and natural gas power generation projects and energy storage
facilities. For more information, please visit
www.invenergyllc.com.
Duke Energy media contact: Tammie
McGee
800.559.3853
Invenergy media contact: Mary
Ryan
312.582.1424
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SOURCE Duke Energy