Duke Energy steps up solar power efforts, partnering with Chinese firm
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Local Tech Wire
CHARLOTTE, N.C. – Duke Energy (NYSE: DUK) says it will work with a Chinese firm to expand its efforts to develop commercial solar power projects in the U.S.
Duke’s partner is ENN Group, which has more than 100 subsidiaries operating in over 80 cities across China and around the world. The firm employs more than 24,000 people.
Financial terms of the partnership were not disclosed. They announced a preliminary agreement in September.
The two companies plan to focus on what they describe as large “utility-scale” solar farms as well as commercial distributed generation projects rather than centralized power plants.
"China is investing heavily in clean energy and we can make greater progress in the U.S. by joining forces and working together," said Duke Energy Chief Executive Officer Jim Rogers. "Duke Energy and ENN seek to not only accelerate the development of solar power in the U.S., but help achieve economies of scale and drive down the cost of renewable energy."
Duke and ENN will jointly develop, own, and operate the projects.
Duke already is deeply involved in renewable energy projects, especially wind.
Copyright 2012 WRAL Tech Wire. All rights reserved.
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