Duke Energy’s renewables wing is buying a 60-MW Colorado solar project currently under development, the North Carolina-based utility announced Thursday.
The Palmer Solar project will contain more than 200,000 solar panels and is being built in El Paso County south of Colorado Springs. Duke Energy Renewables is buying the project from juwi Americas, a Boulder, Colo.-based renewables company.
“We’re pleased to continue expanding our solar footprint in Colorado,” said Rob Caldwell, president of Duke Energy Renewables. “The Palmer Solar project is another positive step toward Gov. (Jared) Polis’ dedication of moving the state’s electric grid to 100 percent renewable sources by 2040.”
With the Palmer acquisition Duke Energy Renewables now owns two Colorado solar projects totaling 70 MW. Palmer is being developed in partnership with Colorado Springs Utilities, which will receive the energy under a 20-year power purchase agreement.
“We are committed to offering our customers a clean, more diverse and affordable energy portfolio to power homes and businesses,” said Aram Benyamin, Colorado Springs Utilities CEO. “The Palmer Solar project is one of the latest examples of how we are partnering with entities to change the way we power Colorado Springs, taking advantage of the economics and environmental benefits of solar power.”
The Palmer Solar project will generate enough energy to power approximately 19,000 homes per year.
Duke Energy Renewables entered into an engineering, construction and procurement (EPC) agreement with juwi for the construction of the project. juwi, through its subsidiary JSI Construction Group, is overseeing the construction of the project, which began in the first quarter of 2019.
Duke Energy Renewables anticipates construction of the Palmer Solar project to be completed by the end of the year.