Duke Energy and Sun Edison LLC, a worldwide solar energy services provider and subsidiary of MEMC Electronic Materials (NYSE: WFR), announced today the activation of the final phases of a 17.2 megawatt (MW) solar farm in Davidson County.
Constructed in five phases and covering over 200 acres of land, the project is comprised of more than 63,000 photovoltaic solar panels and is expected to generate an estimated 28 million kilowatt-hours annually — enough energy to power more than 2,600 homes a year.
“Solar energy continues to increase in its importance to North Carolina customers,” said Brett Carter, president of Duke Energy North Carolina. “Partnerships, like the one with SunEdison, have allowed Duke Energy to comply with North Carolina’s solar requirements in a cost effective way.”
The solar farm was made possible through a solar energy service agreement between SunEdison and Duke Energy where SunEdison designed and deployed the project and will be responsible for the ongoing operations and maintenance of the facility.
Financing was made possible through lease financing provided by MetLife and Bank of America Merrill Lynch. The project is rated at 17.2MW as measured in direct current, or 15.5MW as measured in alternating current.
“SunEdison is proud to be working with Duke Energy in meeting its solar energy goals,” said Robert Reichenberger, U.S. vice president of utilities for SunEdison.
“By bringing together the right people, technologies and financing solutions, SunEdison is able to make large-scale solar a reality for utilities and their customers across the globe.”