Duke Energy, Wells Fargo and NextEra Energy Resources collaborate to expand solar power in North Carolina

Under a new agreement focused on North Carolina, Wells Fargo will join Duke Energy’s Green Source Advantage program to offset power purchases with the acquisition of more than 58 MW of solar capacity from the NextEra Energy Resources, LLC-owned Blackburn Solar project.

That project, connected to the Duke Energy grid, will sprawl over 600 acres of Catawba County and will be developed, owned, and operated by a subsidiary of NextEra. Once in operation — likely as early as 2022 — it will offset around 50 percent of Wells Fargo’s statewide energy usage.

“As large energy users look to expand their sustainability goals, many are finding Duke Energy’s Green Source Advantage program the perfect fit to accomplish that,” said Stephen De May, Duke Energy’s North Carolina president. “The program’s flexibility allows the customer to modify it to best suit their needs. Our state benefits by reducing carbon emissions and using more renewable energy.”

The effort is expected to bring more money flow into the economy, spur construction jobs and generate millions of dollars in new tax revenue for the area. While Duke Energy maintains more than 3,500 MW of solar power and more than 40 solar sites in North Carolina, this latest addition was agreed on specifically by Wells Fargo and NextEra.

“The development of renewable energy projects close to employee and customer centers is one way Wells Fargo is working to meet our net-zero greenhouse gas emissions goal in a way that also contributes to the communities where we live and work. Investing in solar energy development in North Carolina will support job creation, tax revenue, reduced carbon emissions, and grid resiliency,” said Nate Hurst, head of Social Impact and Sustainability at Wells Fargo. “We appreciate the collaboration with Duke and NextEra to advance our enterprise sustainability goals in a way that benefits the local economy.”

To date, Duke has made 600 MW of capacity available to large customers as part of its GSA program. The program also allows customers to keep any renewable energy certificates from affiliated projects to satisfy sustainability or carbon-free goals.