Duke Energy, Wells Fargo and NextEra Energy Resources Join Forces for Major Solar Expansion in North Carolina | Duke Energy


  • Bank benefits from Duke Energy’s Green Source Advantage program

  • 58-megawatt solar power plant planned for Catawba County

CHARLOTTE, NC – Wells Fargo became the latest major energy user to enter into a renewable energy deal under Duke Energy’s Green Source Advantage (GSA) program – building on solar expansion in North Carolina.

Wells Fargo will purchase more than 58 megawatts (MW) of solar capacity from the Blackburn Solar project, a planned 600-acre facility in Catawba County. It will be developed, owned and operated by a subsidiary of NextEra Energy Resources, LLC. Subject to local and state approvals, the project is expected to be commissioned as early as 2022. The electricity produced will offset about 50% of the bank’s energy consumption in the state.

“As heavy energy users look to broaden their sustainability goals, many find Duke Energy’s Green Source Advantage program the perfect fit for getting there,” said Stephen De May, president of Duke Energy in North Carolina. North. “The flexibility of the program allows the customer to modify it to best suit their needs. Our state benefits by reducing carbon emissions and using more renewable energy.

“Developing renewable energy projects near employee and customer centers is one way Wells Fargo is working to achieve our goal of zero net greenhouse gas emissions in a way that contributes also to the communities in which we live and work. Investing in solar energy development in North Carolina will support job creation, tax revenues, reduced carbon emissions and grid resilience, ”said Nate Hurst, Head of Social Impact and sustainability at Wells Fargo. “We value working with Duke and NextEra to advance our sustainability goals in a way that benefits the local economy. “

“We are excited to be working with Duke Energy and Wells Fargo to provide more affordable renewable energy through the Green Source Advantage program,” said Matt Handel, senior vice president of development for NextEra Energy Resources. “The Blackburn Solar project will also bring significant benefits to the economy, creating well-paying construction jobs and generating millions of dollars in additional tax revenue for the local community.

The Green Source Advantage program is the result of the 2017 solar legislation in North Carolina. The GSA program allows large customers to offset their electricity purchases by obtaining renewable energy from projects connected to the Duke Energy grid. The client can keep the renewable energy certificates (CERs) of the projects to meet the sustainability or decarbonization goals.

A similar program from Duke Energy is now available in South Carolina.

Participation in Green Source Advantage means that Wells Fargo will participate in the development of a new source of renewable energy. Wells Fargo and NextEra Energy Resources have agreed on the specific project and additional costs associated with the facility’s energy.

Duke Energy’s GSA program has made 600 MW of capacity available to large Duke Energy customers in North Carolina. A substantial portion of the available capacity has already been taken by the City of Charlotte, Bank of America and Duke University in previously announced projects.

Duke Energy maintains more than 3,500 MW of solar power on its North Carolina power grid, which could power approximately 700,000 homes and businesses at full capacity. The company also operates more than 40 solar installations in the state. North Carolina currently ranks 3rd nationally for global solar power.

About Duke Energy

Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, North Carolina, is one of the largest energy holding companies in the United States. through its unregulated unit Duke Energy Renewables.

Duke Energy is transforming the customer experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit’s regulated utilities serve approximately 7.7 million retail electricity customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the United States, as well as energy storage and microgrid projects.

Duke Energy was named to Fortune’s 2020 “World’s Most Admired Companies” list and Forbes’ 2019 “America’s Best Employers” list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains press releases, fact sheets, photos, videos and other material. The Duke Energy Illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.

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