Utility Dive
Summary
As part of a shift towards its faster-growing regulated operations, Duke Energy plans to sell its commercial distributed generation business for an “enterprise value” of $364 million to an affiliate of private equity firm ArcLight Capital Partners, the utility company said Wednesday.
Duke said it expects about $259 million in proceeds from the deal, which is slated to close by the end of the year. The business for sale includes about 200 MW in assets, according to Jennifer Garber, a Duke spokeswoman.
The distributed generation business — part of Duke Energy Sustainable Solutions — includes REC Solar’s operating assets, development pipeline and its operations and maintenance portfolio, as well as distributed fuel cell projects managed by Bloom Energy, Duke said. Employees of the distributed generation business will transition to ArcLight, according to the utility company.
Duke Energy Sustainable Solutions has close to 1,000 distributed generation projects, ranging from less than 1 MW to nearly 40 MW, according to the company.
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