February 9, 2015
Duke Energy buys majority stake in California solar developer
Duke Energy Renewables plans to invest $225 million over the next several years in building and operating solar projects for commercial customers after purchasing a majority stake in California solar company.
Duke Renewables and REC Solar of San Luis Obispo, Calif., declined to provide the financial details of the purchase. But Duke will use the $225 million to purchase about half of the projects REC Solar develops in the next several years.
Mark Manly, head of Duke Energy Corp.’s (NYSE:DUK) commercial,…