Duke Energy acquires full ownership of REC Solar
Duke Energy announced Wednesday that the company has acquired full ownership of California-based REC Solar, which provides renewable energy solutions to commercial customers across the United States.
Duke Energy acquired a majority interest in REC Solar in February 2015.
“REC Solar complements our strengths in forming strategic partnerships with customers of all sizes,” Chris Fallon, vice president of Duke Energy Renewables and Commercial Portfolio, said. “Energy solutions specifically tailored to the commercial consumer will expand renewable energy opportunities for enterprise, municipal, educational and business customers, large and small.”
Duke Energy purchased the remaining shares of REC Solar in a cash transaction. Details were not disclosed. REC Solar will be managed as an independent business unit of Duke Energy Renewables.
“Duke Energy brings expertise in utility-scale renewables and enables us to be a one-stop-shop solution for customers in a complex marketplace,” Matthew Walz, president & CEO of REC Solar, said. “We can offer our customers access to more financing options and diverse energy choices, whether it be offsite or onsite, battery storage, solar power or wind generation.”
