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    Array Technologies increased revenue 35% to US$872.7 million in 2020

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    Nordex Group: half-year sales rise to EUR 2 billion, earnings impacted by COVID-19

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    GE Renewable Energy connects the world’s most powerful hydro unit to the grid in Wudongde, China

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    WindEurope Annual Event 2022 in Bilbao – Registrations Open, Conference Programme Available

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    RWE chooses Chantiers de l’Atlantique as key supplier for its F.E.W Baltic II wind farm – design, construction and installation of the electrical offshore substation

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    EGAT deploys Siemens software solutions for the world’s largest Hydro-Floating Solar Hybrid Project

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    GE’s digital power transformers selected for multiple projects across the globe

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    Trina Solar betting on largest wafer size and third cut cells for 500W-plus modules

    TotalEnergies to Acquire SunPowers Commercial & Industrial Solar Business

    Vattenfall Wind

    UK Government grants consent for Vattenfall’s Norfolk Vanguard Offshore Wind Farm

    New DNV GL class rules for floating offshore wind energy expands industry horizon

    Norway to launch 1.5 gigawatt offshore wind tender

    Atlas and Hitachi to develop energy storage systems for renewable projects

    Velto Renewables supports the 360 MW offshore wind farm London Array

  • Market Moves
    Array Technologies increased revenue 35% to US$872.7 million in 2020

    Array Technologies increased revenue 35% to US$872.7 million in 2020

    Nordex Group: half-year sales rise to EUR 2 billion, earnings impacted by COVID-19

    Nordex Group: half-year sales rise to EUR 2 billion, earnings impacted by COVID-19

    GE Renewable Energy connects the world's most powerful hydro unit to the grid in Wudongde, China

    GE Renewable Energy connects the world’s most powerful hydro unit to the grid in Wudongde, China

    Ferroglobe Hydro power

    Ferroglobe completes sale of Spanish hydro facilities to TPG Sixth Street Partners

    Intersolar, EES and Power2drive NA Acquired by Diversified Communications

    Intersolar, EES and Power2drive NA Acquired by Diversified Communications

    Summit Energy Services Announces Merger with Schneider Energy Consulting

    SeaMade secures €250m European loan for Belgian offshore wind farms

    SeaMade secures €250m European loan for Belgian offshore wind farms

    Xcel Energy agrees to buy Mankato Energy Center for $650m

    UK renewable energy overtakes fossil fuels, despite Brexit fears

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    Intersolar Europe 2022: Solar Energy in Germany Takes Center Stage

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    SPI Energy Develops Utility Scale Solar Project in Maryland

    Lightsource BP pioneers UK's first night-time solar service

    Altus Power and Heliene Establish Strategic Partnership to Support U.S. Solar Module Manufacturing

    EDP signs a Build & Transfer Agreement for a 200 MWac solar project in the U.S.

    I&M is Powering the Next Tomorrow with Plans to Add More than 2,000 MW of Solar

    WindEurope Annual Event 2022 in Bilbao - Registrations Open, Conference Programme Available

    WindEurope Annual Event 2022 in Bilbao – Registrations Open, Conference Programme Available

    RWE chooses Chantiers de l'Atlantique as key supplier for its F.E.W Baltic II wind farm - design, construction and installation of the electrical offshore substation

    RWE chooses Chantiers de l’Atlantique as key supplier for its F.E.W Baltic II wind farm – design, construction and installation of the electrical offshore substation

    EGAT deploys Siemens software solutions for the worlds largest Hydro-Floating Solar Hybrid Project

    EGAT deploys Siemens software solutions for the world’s largest Hydro-Floating Solar Hybrid Project

    Protermosolar adds value to the Spanish concentrated solar power industry in China

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    GE’s digital power transformers selected for multiple projects across the globe

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Duke Energy assumes full ownership of California-based REC Solar

in America, Press Statements, Renewable Power, Solar Energy

Duke Energy, one of the largest energy companies in the country, announced it has acquired full ownership of California-based REC Solar, a provider of renewable energy solutions for commercial customers throughout the U.S. Duke Energy first acquired a majority interest in REC Solar in February of 2015.

REC Solar will continue to be a part of Duke Energy Renewables, Duke Energy’s commercial renewables organization. Duke Energy Renewables’ experience in offsite solar and wind energy generation, microgrid, battery storage and other emerging technologies, will supplement REC’s onsite solar expertise.

“REC Solar complements our strengths in forming strategic partnerships with customers of all sizes,” said Chris Fallon, vice president Duke Energy Renewables and Commercial Portfolio. “Energy solutions specifically tailored to the commercial consumer will expand renewable energy opportunities for enterprise, municipal, educational and business customers, large and small.”

For example, the energy solutions deployed by Montgomery County, Maryland, partnering with Duke Energy Renewables, REC Solar and Schneider Electric, exemplify the opportunities afforded by tapping into a diversified energy portfolio. The county incorporated solar and high-efficiency heat delivered through a microgrid-as-a-service model to provide a more resilient and reliable power source that produces approximately 10.7 million kilowatt hours of solar energy per year, reducing greenhouse gas emissions by 3,629 metric tons.

“Duke Energy brings expertise in utility-scale renewables and enables us to be a one-stop-shop solution for customers in a complex marketplace,” said Matthew Walz, president & CEO of REC Solar. “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.”

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.

ABOUT DUKE ENERGY RENEWABLES
Duke Energy Renewables primarily acquires, develops, builds and operates wind and solar renewable generation throughout the continental U.S. The portfolio includes nonregulated renewable energy and energy storage assets. Duke Energy Renewables’ renewable energy includes utility-scale wind and solar generation assets which total 2,900 MW across 14 states from 20 commercial wind and 63 solar projects. The power produced from renewable generation is primarily sold through long-term contracts to utilities, electric cooperatives, municipalities and commercial and industrial customers. Learn more at https://www.duke-energy.com/renewable

Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com

ABOUT REC SOLAR
REC Solar is a nationwide leader providing complete commercial, public sector and utility-scale solar solutions. In 1997, our founders had a simple idea – create better power. Since then we have helped hundreds of organizations across the United States think differently about energy; saving money, creating predictability in operating costs, reducing their environmental impact, and pushing their business forward. REC Solar offers all design, engineering, financing and maintenance services in house, allowing for a simple customer experience. Our unmatched expertise and quality are enhanced by the creativity we bring to each project. By integrating into the core beliefs, values and community of the organizations we work with, we generate greater business value. For more information, visit RECSolar.com

Contact: Tammie McGee, Duke Energy
Media line: 800.559.3853

Contact: Ann Kroll
805.471.0085, REC Solar

akroll@recsolar.com

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