Duke Energy has agreed to sell its unregulated utility scale Commercial Renewables business in the United States to Brookfield Renewable, at an enterprise value of approximately US$2.8bn. The company’s renewables business platform comprises more than 3.4 GW of utility scale solar, wind and battery storage across the US, net of joint venture partners ownership, in addition to operations, new project development, and current projects under construction. The sale is subject to satisfaction of customary closing conditions, including regulatory approval by the Federal Energy Regulatory Commission (FERC). The transaction is expected to be completed by the end of 2023.
Duke Energy is one of America’s largest energy holding companies, serving 8.2 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and owning 50 GW of energy capacity. Brookfield Renewables owns and operates 31.6 GW of hydropower, wind, utility-scale solar and storage facilities in North America, South America, Europe and Asia, and holds a 131.9 GW development pipeline.
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