CHARLOTTE, N.C., June 7, 2021 /PRNewswire/ -- Duke Energy
Sustainable Solutions*, a nonregulated commercial brand of Duke
Energy (NYSE: DUK), today announced the start of construction of
the 250-megawatt (MW) Pisgah Ridge Solar project in Navarro County, Texas.
Once in operation, it will be the largest utility-scale solar
facility in Duke Energy Sustainable Solutions' fleet.
Charles River Laboratories International Inc. (NYSE: CRL), a
leading provider of critical research tools and integrated support
services that enable innovative and efficient drug discovery and
development, has signed a virtual power purchase agreement (VPPA)
for 102 MW of the project over 15 years. This commitment will
address the entirety of the company's North American electric power
load with clean, renewable energy by 2023.
"We're excited to continue to grow our Texas solar portfolio, which will provide
additional energy resources for the citizens of Texas to help meet their growing demand and
need for a more diverse energy infrastructure," said Chris Fallon, president of Duke Energy
Sustainable Solutions. "This project demonstrates how we can
address the community's need for clean energy resources, while
providing unique sustainability solutions for customers like
Charles River."
"This VPPA is the first step toward our commitment to source
100% renewable electricity globally by 2030. The benefits of the
Pisgah Ridge Solar project move us substantially closer to
achieving that goal," said Gregg
Belardo, senior director of EHS & sustainability at
Charles River.
Charles River was advised on the VPPA by Schneider Electric, who
assisted the company in its project selection and negotiations.
Two other corporations have signed separate 15-year VPPA
agreements for the remaining 148 MW of solar energy generated by
the Pisgah Ridge Solar project. All three VPPAs associated with the
site will settle on an as-generated basis tied to the project's
real-time energy output.
The engineering and construction for the project are being
performed by Moss, while Duke Energy Sustainable Solutions will own
and operate the project. The team expects to achieve commercial
operation of Pisgah Ridge Solar by the end of 2022.
The project is expected to employ 200 to 300 workers at peak
construction. Along with indirect economic benefits that accompany
solar project development, such as increased local spending in the
service and construction industries, the Pisgah Ridge Solar
facility will also have a positive economic impact on the local
community by providing significant tax revenues for the Corsicana
Independent School District.
Duke Energy Sustainable Solutions currently operates nearly
1,500 MW of wind, 500 MW of solar and a 36 MW battery storage
facility in Texas. The addition of
the 250 MW Pisgah Ridge Solar facility, which will be located
outside of Dallas, will generate
enough energy to power approximately 63,000 additional residences
in the state.
As one of the nation's top renewable energy providers, Duke
Energy plans to double its enterprise wide renewable portfolio from
8 GW to 16 GW by the end of 2025.
Duke Energy Sustainable Solutions
Duke Energy Sustainable Solutions is a nonregulated commercial
brand of Duke Energy (NYSE: DUK) – a Fortune 150 company and one of
the largest energy holding companies in the U.S. – headquartered in
Charlotte, N.C.
Duke Energy Sustainable Solutions is a leader in sustainable
energy, helping large enterprises reduce power costs, lower
emissions and increase resiliency. The team provides wind, solar,
resilient backup power and managed energy services to over 1,000
projects across the U.S., with a total electric capacity of more
than 5,100 megawatts of nonregulated renewable energy. Visit Duke
Energy Sustainable Solutions and follow on LinkedIn and
YouTube for more information.
Duke Energy is executing an aggressive clean energy strategy to
create a smarter energy future for its customers and communities –
with goals of at least a 50 percent carbon reduction by 2030 and
net-zero carbon emissions by 2050. The company is a top U.S.
renewable energy provider, on track to operate or purchase 16,000
megawatts of renewable energy capacity by 2025. 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.
Charles River
Charles River provides essential products and services to help
pharmaceutical and biotechnology companies, government agencies and
leading academic institutions around the globe accelerate their
research and drug development efforts. Our dedicated employees are
focused on providing clients with exactly what they need to improve
and expedite the discovery, early-stage development and safe
manufacture of new therapies for the patients who need them. To
learn more about our unique portfolio and breadth of services,
visit www.criver.com.
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 most recent Annual
Report on Form 10-K and subsequent quarterly reports on Form 10-Q
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.
* Duke Energy Sustainable Solutions is a non-regulated
commercial brand of Duke Energy Corporation, which includes the
following subsidiaries of Duke Energy Corporation that are
registered to transact business in various states and may be
branded as Duke Energy Sustainable Solutions for marketing
purposes: Duke Energy One, Inc.; Duke Energy Commercial
Enterprises, Inc.; Duke Energy Renewables, Inc.; Duke Energy
Renewables Commercial, LLC; Duke Energy Renewable Services, LLC.;
Duke Energy Renewables Storage, LLC; Duke Energy Renewables Wind,
LLC.; Duke Energy Renewables Solar, LLC.; and REC Solar Commercial
Corporation.
Media contact: Jennifer
Garber
Media line: 800.559.3853
Email: jennifer.garber@Duke-Energy.com
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SOURCE Duke Energy