Duke Energy Commercial Project Secures Financing

Duke Energy Generation Services (DEGS), a Duke Energy Commercial Businesses unit that owns and develops renewable power assets, has raised approximately $45 million by leveraging its ownership of the 14 MW Blue Wing Solar Project, which is currently under construction in San Antonio.

Prudential Capital Group provided the 25-year loan. When completed later this year, Blue Wing will consist of 214,500 ground-mounted First Solar thin-film panels, making it the largest photovoltaic project in Texas, according to DEGS.

DEGS purchased the 139-acre project from Boulder, Colo.-based juwi solar in the first quarter of this year. juwi solar is the construction contractor for the project. The acquisition came with a 30-year power purchase agreement to sell all of the output from the solar farm and associated renewable energy certificates to San Antonio-based CPS Energy.

SOURCE: Duke Energy

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