Duke Energy Expands Solar Energy Portfolio; Acquires 200 MW Holstein

Duke Energy Renewables, a subsidiary of Duke Energy, made its third solar generation facility purchase in Texas. The Charlotte, NC-headquartered company struck a deal with 8minute Solar Energy to acquire the 200MW Holstein solar project in Nolan County, TX. Upon completion, the West Texas solar farm will end up being the largest project in Duke Energy Renewable’s portfolio.

The project, which covers 1,300 acres in Wingate, TX, will contain more than 709,000 solar panels. Construction is already underway, with completion anticipated during summer 2020. When it becomes operational, Holstein will power the equivalent of 40,000 homes. CIT Group Inc. arranged for $204.5 million in debt financing to build the farm.

Much of the energy generated from the Holstein solar project will be sold through a 12-year term hedge agreement to J. Aron & Company LLC., a subsidiary of Goldman Sachs.

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