Duke Energy Sustainable Solutions to build new solar plant in El Paso County, Colo.

Rhea-AI Summary

Duke Energy Sustainable Solutions (DESS) has acquired the Pike Solar project in Colorado, aimed at providing 175 megawatts of renewable energy to Colorado Springs Utilities. Covering about 1,310 acres and featuring over 414,000 solar panels, this facility will generate enough electricity to power approximately 46,300 homes. Under a 17-year agreement, Colorado Springs Utilities will purchase the generated electricity. The project is anticipated to employ 350 workers at peak construction and is on track for commercial operation by late 2023. This acquisition underscores DESS's commitment to expanding its renewable energy portfolio.

Positive

• Acquisition enhances Duke Energy's renewable energy portfolio with the addition of Pike Solar.
• The project will generate 175 megawatts, sufficient to power approximately 46,300 homes.
• Pike Solar is projected to create 350 jobs at peak construction, boosting local employment.

Negative

• None.

• Pike Solar project will provide clean energy to customers of Colorado Springs Utilities

CHARLOTTE, N.C., Jan. 18, 2023 /PRNewswire/ -- Duke Energy Sustainable Solutions (DESS) has acquired Pike Solar, a new solar power plant being constructed to serve customers of Colorado Springs Utilities. Duke Energy Sustainable Solutions is a nonregulated commercial brand of Duke Energy (NYSE: DUK).

DESS acquired the solar project from JUWI Inc. (JUWI), a global solar power developer.

Containing more than 414,000 solar panels on about 1,310 acres just outside the city limits of Colorado Springs, Colo., Pike Solar will provide 175 megawatts of electricity to Colorado Springs Utilities customers. That is enough electricity to power approximately 46,300 homes.

Under a 17-year agreement, Colorado Springs Utilities will purchase the electricity Pike Solar generates. Under the terms of the acquisition, JUWI is responsible for the engineering, procurement and construction of the project. The solar modules are being procured by DESS.

JUWI and DESS will each have operation and maintenance responsibilities. With this addition, DESS has three solar projects in Colorado totaling 248 megawatts.

"We're pleased to continue expanding our solar portfolio in Colorado," said Chris Fallon, president of Duke Energy Sustainable Solutions. "This project will support the renewable energy goals of Colorado Springs Utilities and allow them to reduce energy costs while providing diverse and cleaner energy solutions for their customers."

"This is an exciting development for us as Pike Solar will be the largest solar facility on our system and represents a significant step on our journey to diversify our energy mix," said Travas Deal, acting chief executive officer for Colorado Springs Utilities. "Projects like Pike Solar are integral to our ability to reach our Energy Vision goal of achieving 80% carbon reduction by 2030."

The solar plant is under construction with current activities focused on civil work and racking installation, and is scheduled to achieve commercial operation in late 2023.

"The realization of the Pike Solar project marks another milestone in our company's history. Pike Solar is our company's largest single project worldwide. We are pleased to work with Duke Energy Sustainable Solutions, Colorado Springs Utilities Board and El Paso County's local officials to add additional clean and cost-effective generation in Colorado, our home base in the U.S.," says JUWI's Group COO Stephan Hansen.

The project is expected to employ 350 at peak construction. Along with indirect economic benefits that accompany solar project development, such as increased local spending in the service and construction industries, the Pike Solar facility will also have a positive economic impact on the local community by providing significant tax revenues for area public schools.

As one of the nation's top renewable energy providers, Duke Energy has more than 10,500 MW of solar and wind energy.

About Duke Energy Sustainable Solutions

Duke Energy Sustainable Solutions is a leader in sustainable energy, helping large enterprises reduce power costs, lower emissions and increase resiliency. The team provides wind, solar, resilient backup power and managed energy services to over 1,000 projects across the U.S., with a total electric capacity of more than 5,100 megawatts of nonregulated renewable energy.

Duke Energy Sustainable Solutions is a nonregulated commercial brand of Duke Energy (NYSE: DUK), a Fortune 150 company and one of the largest energy holding companies in the U.S., headquartered in Charlotte, N.C.

The brand includes the following subsidiaries of Duke Energy Corporation that are registered to transact business in various states and may be branded as Duke Energy Sustainable Solutions for marketing purposes: Duke Energy One, Inc.; Duke Energy Commercial Enterprises, Inc.; Duke Energy Renewables, Inc.; Duke Energy Renewables Commercial, LLC; Duke Energy Renewable Services, LLC.; Duke Energy Renewables Storage, LLC; Duke Energy Renewables Wind, LLC.; Duke Energy Renewables Solar, LLC.; and REC Solar Commercial Corporation.

About JUWI Inc.

The JUWI Group has been one of the leading specialists of renewable energy for more than 25 years and offers complete project development as well as other services related to the planning, construction, and operational management of renewable energy plants. The main business areas include projects with wind and solar energy as well as hybrid systems with storage for industrial applications.

JUWI employs more than 1,200 people worldwide. Outside of Germany, the company has subsidiaries in Italy, Greece, South Africa, the USA (Colorado-based HQ), Japan, Australia, India, the Philippines, Thailand, Vietnam and Singapore.

To date, JUWI has implemented more than 1,200 wind energy plants with a capacity of more than 2,800 megawatts at approximately 200 locations worldwide in the wind segment. In the solar segment, the company has executed on approximately 1,850 PV plants with a total capacity of nearly 3,250 megawatts. JUWI's operations management group services wind energy and photovoltaic plants with a capacity of more than 4,100 megawatts.

About Colorado Springs Utilities  

For generations, Colorado Springs Utilities has provided electricity, natural gas, water and wastewater services to the Pikes Peak region. As a community-owned utility, its customers enjoy competitive prices, exceptional hometown service, responsible environmental practices and a voice in how their utility operates. Learn more at csu.org.

Contact: Valerie Patterson
24-Hour: 800.559.3853

 

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SOURCE Duke Energy

FAQ

What is the Pike Solar project by Duke Energy?

The Pike Solar project is a solar power plant acquired by Duke Energy Sustainable Solutions, expected to generate 175 megawatts of electricity for Colorado Springs Utilities.

When will the Pike Solar project be operational?

The Pike Solar project is scheduled to achieve commercial operation by late 2023.

How much electricity will Pike Solar generate?

Pike Solar will generate 175 megawatts of renewable electricity, enough to power about 46,300 homes.

What agreement does Colorado Springs Utilities have regarding Pike Solar?

Colorado Springs Utilities has a 17-year agreement to purchase the electricity generated by Pike Solar.

How many jobs will the Pike Solar project create?

The Pike Solar project is expected to create 350 jobs at peak construction.