North Carolina-headquartered utility Duke Energy has agreed to sell a minority stake in a roughly 1.2GW portion of its renewable energy portfolio for US$1.25 billion.
As part of Duke Energy’s efforts to advance battery storage technology within the Carolinas, the company announced US$500 million in projects over the next 15 years within both US states.
Cypress Creek Renewables, which developed 1GW of PV projects in an 18-month stretch up to the beginning of this year, has used Lockheed Martin’s lithium-ion battery storage solutions in a dozen just-completed solar-plus-storage projects.
Duke Energy announced plans to install North Carolina’s two largest battery storage systems — which stands as a US$30 million investment as part of Duke Energy’s Western Carolinas Modernisation Plan.
Work begins this month on solar-plus-storage projects in North Carolina that will deploy a total 12MWh energy storage, by developer Cypress Creek Renewables and turnkey solar and storage provider United Renewable Energy.