Strategic partnership created between Duke Energy,
Integrys and Smart Energy for U.S. solar projects
Oct 22, 2010 - Syanne Olson - pv-tech.org
Duke Energy announced the partnership it has built
with Integrys Energy Services and Smart Energy Capital
to build and finance distributed solar projects in
the U.S. The collaboration will start with Duke Energy
Generation Services (DEGS) and Integrys jointly owning
rooftop and small ground-mounted PV solar projects,
which will distribute electricity to investment-grade
commercial, government and utility customers under
long-term PPAs. Smart Energy will handle the development
and financial organizing for the projects.
"What makes this partnership unique in the
marketplace is its focus on distributed solar solutions
that produce renewable electricity close to where
it is used, rather than at centralized power plants," said
Greg Wolf, DEGS senior vice president and head of
the unit's commercial solar business. "The companies
involved bring a wealth of project development, construction,
management and financing expertise to the partnership."
DEGS and Integrys have both agreed to give an equal
amount of required equity capital for the construction
and ownership of the projects and estimate that over
US$180 million will be invested by the two companies
during the next two years.
"We have invested more than $65 million in
20 different distributed generation solar projects
across the U.S. with a combined capacity of more
than 10MW," said Joel Jansen, managing director
and head of energy assets at Integrys Energy Services. "Partnering
with DEGS and Smart Energy Capital enables us to
expand our presence in this market in an efficient,
strategic manner."
The projects are expected to start at 500kW and
increase according to customer needs. DEGS and Integrys
will manage the operating and maintenance of the
projects and monetize all federal tax benefits while
Smart Energy will bring in CB Richard Ellis and Tremco
Roofing to offer customers sustainability and energy
objectives.
|
