Duke Energy Selling Utility-Scale Commercial Renewables Business for $2.8 Billion to Brookfield
June 12 2023 - 5:15PM
Dow Jones News
By Stephen Nakrosis
Brookfield Renewable will buy the unregulated utility scale
commercial renewables business of Duke Energy in a deal valued at
about $2.8 billion, the companies said Monday.
The sale includes over 3,400MW of scale solar, wind and battery
storage, along with operations, projects currently under
construction, and other assets, the companies said. The primary
operations of the commercial renewables business will remain in
Charlotte, N.C. and Duke Energy employees will transition to
Brookfield "to maintain business continuity for its operations and
customers," according to the companies.
Duke said it expects net proceeds of about $1.1 billion from the
deal. Lynn Good, Duke's chair, president and chief executive, said
"this sale is an important step in our transition into a purely
regulated company with significant grid and clean energy investment
plans that will deliver benefits to our customers and
stakeholders."
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
June 12, 2023 17:00 ET (21:00 GMT)
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