Track the companies that matter to you. It's FREE! Click one of these fan favorites to get started: Apple; Google; Ford.



Duke Energy Buys San Francisco Solar Project

Don't let it get away!

Keep track of the stocks that matter to you.

Help yourself with the Fool's FREE and easy new watchlist service today.

Duke Energy (NYSE: DUK  ) announced today that it has acquired a 4.5 MW San Francisco solar project, the largest in the city, and one of the largest urban solar farms in California.

The company's Duke Energy Renewables subsidiary purchased the plant from developer Recurrent Energy, and will sell electricity to the San Francisco Public Utilities Commission for at least the next 25 years.

"With the addition of this project, we continue to grow our solar footprint in California," said Duke Energy Renewables President Greg Wolf in a statement today. "As this asset continues to contribute to the state and city's renewable energy goals for years to come, we look forward to being a positive presence in this community."

For San Francisco's part, the city seems more than happy to purchase more solar power. "The Sunset Reservoir solar project more than tripled San Francisco's municipal solar generating capacity," said Public Utilities Commission General Manager Harlan Kelly in a statement. "The renewable, greenhouse gas-free energy from Sunset Reservoir and all of our other facilities help power public buses, the San Francisco International Airport, health clinics, and other vital city services."

Duke Energy Renewables currently has over 100 MW of solar generating capacity spread across 16 different farms. In April, the company acquired 21 MW of solar projects in Twentynine Palms, California, and has invested over $3 billion in solar and wind power since 2007.

Read/Post Comments (2) | Recommend This Article (2)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

  • Report this Comment On August 17, 2013, at 6:34 AM, MightyMinnow wrote:

    wind-ow dressing?

  • Report this Comment On August 18, 2013, at 10:37 PM, MightyMinnow wrote:

    It probably will work because they deal so close with China. They can ship the subsidized panels from China straight to San Francisco and have uncle Sam pick up the tab (so China don't have a monopoly on getting ripped off).

Add your comment.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2597489, ~/Articles/ArticleHandler.aspx, 9/28/2016 1:24:38 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated 4 hours ago Sponsored by:
DOW 18,228.30 133.47 0.74%
S&P 500 2,159.93 13.83 0.64%
NASD 5,305.71 48.22 0.92%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

9/27/2016 4:01 PM
DUK $81.43 Down -0.72 -0.88%
Duke Energy CAPS Rating: ***