CHARLOTTE, N.C., Jan. 15, 2020 /PRNewswire/ -- Duke Energy
Renewables, a subsidiary of Duke Energy (NYSE: DUK), today
announced that it has completed the acquisition of the final
project in a portfolio developed with Inman Solar Inc., totaling 20
megawatts (MWac).
The projects are in construction or have begun commercial
operations across central Georgia
under Georgia Power's Renewable Energy Development Initiative
(REDI).
These projects bring Duke Energy Renewables, operating through
its REC Solar business unit, to 47.4 MWac of distributed solar
projects in Georgia.
"We're excited to acquire
another portfolio of solar projects in Georgia," said Chris
Fallon, vice president of Duke Energy Renewables. "This
transaction was successful because of our strong relationship with
Georgia Power and a dependable, expert developer and build partner
in Inman Solar."
Duke Energy Renewables' distributed generation arm, REC Solar,
led the acquisition and construction management on behalf of Duke
Energy. Duke Energy Renewables, REC Solar and Inman have worked on
numerous projects in multiple states over the last three years.
The nine solar projects are expected to contribute $11.5 million in leasing and taxes to local
communities. A total of 81,060 solar panels will be used in the
projects. The last site is expected to reach commercial operations
by the end of March.
Each project was developed under an engineering, production and
procurement agreement between REC Solar and Inman and a 30- or
35-year power purchase agreement with Georgia Power, selling all
energy and renewable attributes to Georgia Power as a part of its
REDI Distributed Generation RFP program.
"Inman is very pleased to work with Duke Energy Renewables and
REC Solar on another set of projects," said Dan Fossitt, president, Inman Solar. "We are proud to do additional
projects in Georgia Power's REDI
program. It's invaluable to have reliable finance partners in Duke
Energy Renewables and REC Solar who understand development and can
work with us to manage logistics and efficiently get to
funding."
The nine projects in the portfolio include:
Project
|
MWac
|
County
|
Apalachicola
|
2.5
|
Richmond
|
Arnold
Cochran
|
1.725
|
Bleckley
|
Columbia
Substation
|
1.95
|
Columbia
|
Coody
Cochran
|
2.6
|
Bleckley
|
Fountain
Folkston
|
2.1
|
Charlton
|
Harris
Shiloh
|
2.1
|
Harris
|
Polk
Cedartown
|
2.2
|
Polk
|
Shawnee
|
2
|
Burke
|
Westberry
Jesup
|
2.6
|
Wayne
|
Duke Energy is one of the nation's top renewable energy
providers – on track to own or purchase 8,000 megawatts of wind,
solar and biomass energy by the end of 2020.
About Duke Energy Renewables
Duke Energy Renewables, a nonregulated unit of Duke Energy,
operates wind and solar generation facilities across the U.S., with
a total electric capacity of 3,000 megawatts. The power is sold to
electric utilities, electric cooperatives, municipalities, and
commercial and industrial customers. The unit also operates energy
storage and microgrid projects. REC Solar is a business unit of
Duke Energy Renewables. Visit Duke Energy Renewables and REC
Solar for more information.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in
Charlotte, N.C., is one of the
largest energy holding companies in the U.S. It employs 30,000
people and has an electric generating capacity of 51,000 megawatts
through its regulated utilities, in addition to Duke Energy
Renewables' capacity.
Duke Energy is transforming its customers' experience,
modernizing the energy grid, generating cleaner energy and
expanding natural gas infrastructure to create a smarter energy
future for the people and communities it serves.
Duke Energy was named to Fortune's 2019 "World's Most Admired
Companies" list, and Forbes' 2019 "America's Best Employers" list.
More information about the company is available at duke-energy.com.
The Duke Energy News Center contains news releases, fact
sheets, photos, videos and other materials. Duke Energy's
illumination features stories about people, innovations,
community topics and environmental issues. Follow Duke Energy on
Twitter, LinkedIn, Instagram and Facebook.
About Inman Solar
Inman Solar is a Southeast-based
company that specializes in developing, designing and installing
commercial and utility-scale solar photovoltaic systems.
Inman Solar is an experienced
turnkey provider, handling everything from project management to
engineering and financial analysis. Inman
Solar has built over 112 MW of commercial solar photovoltaic
systems throughout the US, specializing in the Southeast. Inman's
customers are business owners and investors, and we focus on
helping them capture incentives that make solar a smart business
investment. In addition to system engineering design and build,
Inman owns and operate several solar assets. Inman is certified by
the National American Board of Certified Energy Practitioners.
Cautionary Language Concerning Forward-Looking
Statements
This document includes forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934. Forward-looking
statements are based on management's beliefs and assumptions.
These forward-looking statements are identified by terms and
phrases such as "anticipate," "believe," "intend," "estimate,"
"expect," "continue," "should," "could," "may," "plan," "project,"
"predict," "will," "potential," "forecast," "target," "outlook,"
"guidance," and similar expressions. Various factors may cause
actual results to be materially different than the suggested
outcomes within forward-looking statements; accordingly, there is
no assurance that such results will be realized. These risks and
uncertainties are identified and discussed in Duke Energy's Form
10-K for the year ended December 31,
2018, and subsequent quarterly reports filed with the
Securities and Exchange Commission ("SEC") and available at the
SEC's website at www.sec.gov. In light of these risks,
uncertainties and assumptions, the events described in the
forward-looking statements might not occur or might occur to a
different extent or at a different time than Duke Energy has
described. Duke Energy expressly disclaims an obligation to
publicly update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise.
Jennifer Garber, Duke
Energy
Office: 980.373.0668 | 24-Hour: 800.559.3853
Dan Fossitt, Inman Solar
Office:800.899.5261
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SOURCE Duke Energy