Fourteen utility-scale projects selected for North Carolina’s Competitive Procurement of Renewable Energy program
Fourteen utility-scale solar projects were recently selected during an independently judged bidding process as part of North Carolina’s Competitive Procurement of Renewable Energy (CPRE) program.
Duke Energy will produce or purchase 602 megawatts (MW) of renewable energy from projects under the program.
According to independent administrator Accion Group, the projects will provide Duke Energy customers with savings of approximately $375 million over the 20-year contract period as compared to the company’s Avoided Cost, the price at which many solar contracts were set before the CPRE program.
“There was robust interest in the CPRE program, and the selected projects will provide 20 years of cost-effective energy to the Duke Energy system,” Harry Judd of the Accion Group said. “Given the response, we are expecting the next phase of the program to also bring cost savings to customers.”
The 14 projects are the most competitive of the 78 that were submitted. The North Carolina Utilities Commission (NCUC) approved the process used to select projects that would deliver the greatest cost and system benefits to customers.
“As solar energy expands in the Carolinas, the competitive bidding process will lead to better prices and more geographic diversity of projects,” Rob Caldwell, senior vice president and president of Duke Energy Renewables & Business Development, said. “This will enhance Duke Energy’s efforts to promote a cleaner energy mix at lower prices for customers.”
Duke Energy and the winning bidders will execute contracts for the projects over the next few months. Once the contracting process is completed, Duke Energy and Accion Group will finalize a report of all projects and file it with the NCUC around June.
Most of the projects are targeted to begin operation around the end of 2020.
Ten projects North Carolina and four projects from South Carolina were selected. Two selected projects include battery storage with the solar facility. Six of the chosen projects were developed by Duke Energy.
