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Reliance Ind. Considers REC Solar Acquisition (M&A)
Reliance Ind., REC Solar
Date: 2021-09-03
Mumbai-based Indian industrial conglomerate Reliance Industries is reportedly planning to acquire Duke Energy Renewables subsidiary REC Solar for roughly $1 billion to $1.2 billion. Reliance is reportedly in talks with several unspecified lenders to support the transaction.

As previously reported, Reliance Industries, which focuses on the energy, petrochemical, natural gas, and other industries, plans to invest $8.1 billion over the next three years to build giga-factories for solar, green hydrogen, energy storage, electrolyzers, and fuel cells, including an integrated PV module factory in France.

REC Solar's annual production capacity stands at roughly 1.8 GW. (Source: Reliance Energy, PR, 2 Sept., 2021) Contact: Reliance Industries, www.ril.com; REC Solar, Singapre-based www.ril.com; REC Solar, Matt Walz, CEO, 805.471.0085, www.recsolar.com

More Low-Carbon Energy News Reliance Industries,  REC Solar,  


Duke Energy Plans to Triple Renewable Energy by 2030 (Ind. Report)
Duke Energy
Date: 2021-04-28
In its just released 15th Sustainablilty Report, Charlotte, North Calolina-headquartered Duke Energy notes it plans to triple the amount of renewable energy it produces from company power plants and dramatically reduce carbon emissions by 2030.

Currently, 7 pct of Duke Energy's company-owned electrical output comes from wind, solar and hydroelectric plants. That figure is projected to grow to 23 pct by 2030. The company is also undertaking its aggressive renewable energy build-outs with wind and solar projects currently under construction in Florida, North Carolina, Oklahoma and Texas. Over the next three years, Duke will also add 280 mw of pumped storage hydro capacity at its Bad Creek facility in South Carolina.

The company is also overseeing the largest coal retirement in the industry and since 2010 has retired 51 coal-fired units and is aiming to cut carbon emissions 50 pct by 2030 to reach net-zero carbon emissions by 2050. To that end, the company is on track to operate or purchase 16,000 mw of renewable energy capacity by 2025 and is investing in major electric grid upgrades, expanded battery storage, and exploring zero-emitting power generation technologies such as hydrogen and advanced nuclear, according to the release.

Duke Energy also announced Duke Energy Sustainable Solutions, a new comprehensive brand for its non-regulated commercial renewables business. The brand unifies products and services offered by several Duke Energy subsidiaries, including Duke Energy Renewables, REC Solar and Duke Energy One. (Source: Duke Energy, PR, 28 Apr., 2021) Contact: Duke Energy, Katherine Neebe, VP National engagement & Strategy, Chief Sustainability Officer, Duke Energy Sustainable Solutions, www.duke-energy.com

More Low-Carbon Energy News Duke Energy,  Renewable Energy Carbon Emissions,  Net-Zero Emissions,  


Duke Raises $109.4Mn for Solar, Storage Projects (Ind. Report)
Duke Energy Renewables, REC Solar
Date: 2020-08-21
Charlotte, North Carolina-based Duke Energy Renewables reports the closing of $109.4 million in a preferred tax equity funding from Goldman Sachs' Alternative Energy Investing Group.

The investment will be used over 18 months to fund a diverse portfolio of approximately 75 MW of solar and solar-plus-storage projects to be developed and constructed by Duke Energy Renewables' subsidiary REC Solar. Projects will feature ground-mount and rooftop commercial and industrial projects, as well as community solar projects in several states.

Duke Energy Renewables, a non-regulated unit of Duke Energy, operates U.S. wind and solar generation facilities totaling 3,000 MW as well as energy storage and microgrid projects. (Source: Duke Energy News Center, Website, 18 Aug., 2020) Contact: Duke Energy Renewables, Chris Fallon, (704) 594-6200, chris.fallon@duke-energy.com, www.duke-energy.com; REC Solar, www.recsolar.com

More Low-Carbon Energy News Duke Energy Renewables,  Solar,  Solar Storage,  REC Soilar,  


Duke Renewables Completes Kroger Calif. Solar Project (Ind. Report)
Duke Energy Renewables
Date: 2020-07-15
REC Solar, a subsidiary of Duke Energy Renewables, is reporting completion of a 1 MW rooftop solar installation for the Cincinnati-based grocery chain Kroger Co. The installation is at a 300,000-square-foot bakery facility serving two Kroger subsidiaries in California. The installation includes nearly 3,000 solar panels and can produce more than 2 GWh per year of power -- sufficient to power 240 homes.

The city of La Habra, California, supported the project. (Source: Duke Energy Renewables, PR, Charlotte Business Journal, 14 July, 2020) Contact: REC Solar, www.recgroup.com; Duke Energy Renewables, Rob Caldwell, Pres, (704) 594-6200, rob.caldwell@duke-energy.com, www.duke-energy.com

More Low-Carbon Energy News Duke Energy Renewables,  Solar,  REC Solar,  


Duke, SolAmerica Commission Nine Georgia Solar Plants (Ind. Report)
Duke Energy,SolAmerica
Date: 2019-08-28
Duke Energy Renewables is reporting commissioning of 9 Georgia solar power plants totaling 14.1 MW under a partnership with Atlanta-based SolAmerica Energy. The nine projects, which range from 960 kW and 2.3 MW, were developed under an engineering, production and procurement (EPC) agreement between REC Solar, a unit of Duke Energy Renewables, and SolAmerica. The complex's 54,590 photovoltaic (PV) panels will generate electricity and renewable attributes that will be sold under a 35-year power purchase agreement (PPA) with Georgia Power, as part of the latter's Renewable Energy Development Initiative. (Source: Duke Energy, Renewables, 26 Aug., 2019) Contact: Solamerica Energy, 404-351-8175, www.solamericaenergy.com; Duke Energy Renewables, Rob Caldwell, Pres, (704) 594-6200, rob.caldwell@duke-energy.com, www.duke-energy.com

More Low-Carbon Energy News Duke Energy Renewables,  Solar,  


REC Solar to Save Calif. School District Millions (Ind. Report)
REC Solar, Duke Energy Renewables
Date: 2019-06-21
In the Golden State, Duke Energy Renewables subsidiary REC Solar reports it is working with the Pleasanton Unified School District in Pleasanton, Calif., to utilize solar-plus-energy storage solutions to significantly cut emissions and save on energy costs.

The project will install 1 MW of solar carports and a 660 kWh battery energy storage system at Pleasanton Unified's Amador Valley High School for a $2.2 million projected energy costs savings over the term of a 25-year PPA. The installation will be financed by Duke Energy Renewables.

Duke Energy Renewables operates wind and solar generation facilities across the U.S., with a total electric capacity of 3,000 MW. (Source: Duke Energy Renewables, PR, 18 June, 2019) Contact: Duke Energy, www.duke-energy.com; REC Solar, Matt Walz, CEO, 805.471.0085, www.recsolar.com

More Low-Carbon Energy News REC Solar,  Solar,  Energy Storage,  Duke Energy Renewables,  

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