Sign Up for FREE Daily Energy News
Canadian Flag CDN NEWS  |  US Flag US NEWS  | TIMELY. FOCUSED. RELEVANT. FREE
  • Stay Connected
  • linkedin
  • twitter
  • facebook
  • youtube2
BREAKING NEWS:

Copper Tip Energy Services
Hazloc Heaters
Hazloc Heaters
Copper Tip Energy


Duke Energy to sell distributed generation portfolio in $364 million deal


These translations are done via Google Translate

(Reuters) – Utility firm Duke Energy (DUK.N) said on Wednesday it would sell its commercial distributed generation business to private equity firm ArcLight Capital Partners in a $364 million deal.

The business includes operating assets of REC Solar, which Duke had acquired in 2015, development pipeline and operations and maintenance portfolio, as well as distributed fuel cell projects managed by Bloom Energy (BE.N).

Duke said it expects about $259 million of proceeds from this sale, which the company would use to help incorporate more than 30,000 megawatts of regulated renewable energy into its system by 2035.

Electric utilities in the United States are streamlining their operations to shift away from fossil fuels toward cleaner energy sources, including solar and wind, to meet climate goals.

GLJ
ROO.AI Oil and Gas Field Service Software

Duke’s peers such as FirstEnergy (FE.N) and NiSource (NI.N) have also sold stakes in their subsidiaries this year as they seek to invest in cleaner sources of energy.

“The sale of commercial renewables businesses streamlines our portfolio and provides the resources to support our growing regulated territories,” said Duke President and CEO Lynn Good.

The deal is expected to close by the end of 2023.

Share This:




More News Articles


GET ENERGYNOW’S DAILY EMAIL FOR FREE