Duke Energy Renewables is expanding its solar energy portfolio by acquiring the 200 MW AC Rambler solar project from Recurrent Energy, a wholly owned subsidiary of Canadian Solar Inc.
The project will be located in Tom Green County, Texas, and is expected to achieve commercial operation in mid-2020.
The energy generated from the Rambler solar project will be sold to a customer under a 15-year agreement, powering the equivalent of 40,000 homes.
The project will include more than 733,000 of Canadian Solar’s bifacial BiKu modules across approximately 1,700 acres of land west of San Angelo. Duke Energy Renewables will provide long-term operations and maintenance.
“We’re pleased to continue our expansion of solar energy resources in Texas, which is seeing increasing demand for power,” says Rob Caldwell, president of Duke Energy Renewables. “In addition to generating clean energy, this project will also bring significant economic benefits to the state.”
The project is expected to employ 400 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 – Rambler will also directly provide several million dollars to Tom Green County and to the local school district over the 40-year life of the project.
“With over 1 GW of contracted projects in ERCOT’s service territory, we are proud that Recurrent Energy continues to lead solar energy development in Texas, one of the fastest-growing U.S. states for the solar industry,” says Shawn Qu, chairman and CEO of Canadian Solar.
The Rambler solar project, which is the fifth acquisition by Duke Energy Renewables this year, will be the company’s fourth solar generation facility in Texas.
Canadian Solar expects to recognize the majority of the revenue from the sale of the project in the third quarter of this year.
Since 2010, Duke Energy and Recurrent Energy have now partnered on six solar projects, including four equity transactions. Duke Energy has also purchased equity stakes in solar projects developed by Recurrent Energy.