Duke Energy Renewables brings another 200-MWac solar plant online in Texas

-- Company's Texas solar portfolio exceeds 500 MWac in operation

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Jul 23, 2020, 09:00 ET

CHARLOTTE, N.C., July 23, 2020 /PRNewswire/ -- Duke Energy Renewables, a subsidiary of Duke Energy (NYSE: DUK), today announced that its 200-megawatt alternating current (MWac) Rambler Solar project in Tom Green County, Texas, has begun commercial operation.

The Rambler Solar project is the second 200-MWac Texas solar facility that Duke Energy Renewables has brought online this year, bringing its total Texas solar portfolio to over 500 MWac in operation. In early July, the company announced the commercial operation of its Holstein Solar project in Nolan County.

"We're pleased to continue our expansion of solar energy resources in Texas, which is experiencing an increasing demand for power," said Chris Fallon, president of Duke Energy Renewables. "The Rambler Solar project will bring significant economic benefit to the state and generate clean energy to meet the area's growing energy needs."

Duke Energy Renewables acquired the Rambler Solar project in September 2019 from Recurrent Energy, a wholly owned subsidiary of Canadian Solar, Inc.

"Texas is one of the largest and fastest-growing solar markets in the U.S., where the energy landscape is changing rapidly. We are proud to partner with Duke Energy Renewables in the Rambler Solar project to provide clean, affordable and reliable energy to local communities and look forward to contributing more high-quality solar projects in this important market," said Dr. Shawn Qu, chairman and CEO of Canadian Solar.

The energy generated from the Rambler Solar project is being sold to a customer under a 15-year agreement. The 200-MWac project, spanning approximately 1,700 acres west of San Angelo, Texas, contains more than 733,000 Canadian Solar high-efficiency bifacial modules. Rambler Solar will power the equivalent of 40,000 homes.

The facility's construction was performed by Signal Energy. Duke Energy Renewables will provide long-term operations and maintenance services to the project.

The project employed approximately 400 workers during peak construction. Along with indirect economic benefits that accompany solar project development – such as increased local spending in the service and construction industries – Rambler will also directly provide several million dollars to Tom Green County and to the local school district over the 40-year life of the project.

As one of the nation's top renewable energy providers, Duke Energy currently owns, operates and contracts more than 8,000 MW of capacity and plans to double that by 2025.

Duke Energy Renewables

Duke Energy Renewables, a nonregulated unit of Duke Energy, operates wind and solar generation facilities across the U.S., with a total electric capacity of 3,000 megawatts. Duke Energy is one of the nation's top renewable energy providers – on track to own or purchase 8,000 megawatts of wind, solar and biomass energy by 2020. The power is sold to electric utilities, electric cooperatives, municipalities, and commercial and industrial customers. The unit also operates energy storage and microgrid projects. Visit Duke Energy Renewables for more information.

Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, in addition to Duke Energy Renewables' capacity.

Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.

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This document includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are based on management's beliefs and assumptions. These forward-looking statements are identified by terms and phrases such as "anticipate," "believe," "intend," "estimate," "expect," "continue," "should," "could," "may," "plan," "project," "predict," "will," "potential," "forecast," "target," "outlook," "guidance," and similar expressions. Various factors may cause actual results to be materially different than the suggested outcomes within forward-looking statements; accordingly, there is no assurance that such results will be realized. These risks and uncertainties are identified and discussed in Duke Energy's Form 10-K for the year ended December 31, 2018, and subsequent quarterly reports filed with the Securities and Exchange Commission ("SEC") and available at the SEC's website at www.sec.gov. In light of these risks, uncertainties and assumptions, the events described in the forward-looking statements might not occur or might occur to a different extent or at a different time than Duke Energy has described. Duke Energy expressly disclaims an obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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SOURCE Duke Energy