Capital Power signs power purchase agreements with Duke Energy Carolinas for solar projects
Capital Power Corp. signed 20-year power purchase agreements with Duke Energy Carolinas for three solar development projects in North Carolina.
The projects total 160 megawatts and consist of Hornet Solar (75 MW), Hunter’s Cove Solar (50 MW), and Bear Branch Solar (35 MW). Construction is expected to begin in late 2021 or early 2022, with commercial operations anticipated in the fourth quarter of 2022.
“We are delighted to provide additional renewable energy to the people of North Carolina,” Brian Vaasjo, president and CEO of Capital Power, said. “With the Whitla Wind 2&3 and Strathmore Solar projects in advanced development in Alberta, we will be adding an additional 350 megawatts in renewable capacity to our fleet by the end of 2022, representing another step toward our goal of being net carbon neutral on or before 2050. We continue to enhance our expertise in solar development and construction while building our competitiveness for future solar growth opportunities.”
The projects will cost about $198 million to construct, financed with debt and tax equity.
Capital Power is a power producer headquartered in Edmonton, Alberta. The company develops, acquires, owns, and operates power generation facilities using various energy sources. Capital Power owns about 6,500 megawatts (MW) of power generation capacity at 28 facilities across North America. Roughly 350 MW of owned generation capacity is in advanced development in Alberta and North Carolina.
