Utilities, Industrial, Solar, Sourcing Renewables - May 10, 2016
Duke Energy Renewables expands into New Mexico with 25-MW solar project
Duke Energy's unregulated, commercial subsidiary from Infigen Energy.
Power from project, which is under construction and expected to be completed later in 2016, will be sold to Western Farmers Electric Cooperative, or WFEC, under a 25-year agreement, according to a Duke Energy news release.
WFEC's Brian Hobbs, vice president of legal and corporate services, said the cooperative had been looking at solar energy for about 10 years before inking the deal with Duke Energy Renewables.
"The costs of installing solar have dramatically decreased in the past few years and are much closer to competing with more traditional forms of generation," Hobbs said in a statement. "Coupled with other benefits, such as no ongoing fuel costs and decreased emissions, we felt the timing was right to introduce solar into our generation mix."
Duke Energy Renewables, which has been steadily acquiring projects throughout the U.S. with plans for even further growth in the coming years, said the deal "reflects our commitment to provide clean energy solutions for utilities, cooperatives, municipalities, corporations and other organizations."
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