Duke Energy’s 1,300 acre Holstein Solar Farm in Texas has come on line and is the company’s largest solar project to date.
The 200-megawatt, alternating-current Holstein Solar farm began commercial operation June 1. Located near Wingate in the west-central area of Texas, the farm has more than 709,000 solar panels and can power the equivalent of 40,000 homes according to the Charlotte Business Journal.
Duke Renewables acquired the project last year from 8minute Solar Energy for an undisclosed price. Los Angeles-based 8minute led development of the Holstein Solar project.
J. Aron & Co., a commodities trading subsidiary of Goldman Sachs, will acquire most of the energy generated from the Holstein Solar project through a 12 year-term hedge agreement — the first of its kind for a Duke Renewables solar project.
The Holstein Solar farm is the third to come on line for Duke Renewables in Texas. It comes on the heels of the 100-megawatt Lapetus Solar project in Andrews County. That facility in western Texas started commercial operation in January and had previously been Duke Renewables’ largest in the state.
Duke Energy also is in the midst of completing construction of its 200-megawatt Rambler Solar project in Tom Green County, also located in west-central Texas. It anticipates that farm to be up and running soon, with an expected start date in mid-2020.
“Texas is one of the fastest growing solar energy markets in the country,” Chris Fallon, president of Duke Energy Renewables, said in a statement. “Holstein Solar supports the state’s growth and is a great addition to our growing Texas solar energy portfolio.”
The four projects will put Duke Renewables’ total portfolio of solar energy in Texas at 514 megawatts. Its other solar farm in Texas, the 14-megawatt Blue Wing project, started operating in November 2010.
Duke Renewables also operates nine wind-power farms in Texas.
Duke Energy Renewables is the commercial renewables subsidiary of Charlotte-based Duke Energy Corp. (NYSE: DUK).
Duke Energy currently owns, operates and contracts more than 8,000 megawatts of renewable energy projects. It has plans to double that capacity by 2025.
Source: Charlotte Business Journal