Duke Energy to Build North Carolina Solar Estimated at $404 Million

(Bloomberg) -- Duke Energy Corp. will develop six utility-scale solar power projects in North Carolina that may cost up to $404 million as part of the state’s bid to boost renewable energy.

The projects total about 270 megawatts, with most expected to be online around the end of 2020, Charlotte, North Carolina-based Duke said in a statement Wednesday. One megawatt is enough to power about 750 homes.

North Carolina issued requests for solar projects in July after the state in 2017 approved a law designed to increase solar power. A total of 14 proposals with a capacity of 602 megawatts were selected by North Carolina in the first round of the program.

The 14 projects will cost between $602 million and $903 million to build, according to Accion Group, the consultant overseeing the bidding process. The projects may cost up to $1.5 million per megawatt, Accion said.

To contact the reporter on this story: Jim Efstathiou Jr. in New York at jefstathiou@bloomberg.net

To contact the editors responsible for this story: Lynn Doan at ldoan6@bloomberg.net, Christine Buurma, Reg Gale

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