April 23 (Renewables Now) - Duke Energy Renewables, part of US utility Duke Energy (NYSE:DUK), has acquired a 150-MW solar project in California from compatriot Clearway Energy Group for an undisclosed price.
The so-called North Rosamond solar project is currently under construction in Kern County and is expected to become operational early next month, Duke Energy said on Monday. The plant consists of over 477,000 photovoltaic (PV) panels, which will be able to generate electricity for about 71,000 households.
First Solar Electric California is providing engineering, procurement and construction (EPC) services and is taking care of supplying all PV modules, inverters and balance of plant systems. The plant’s output will be sold under a power purchase agreement (PPA) with utility Southern California Edison.
The North Rosamond solar project is Duke Energy Renewables' sixth PV asset in Kern County and the largest project in its fleet, according to the statement. The scheme was financed with tax equity financing from US Bank, M&T Bank (NYSE:MTB) and Guardian Life Insurance Company of America.