Duke Energy Renewables receives $109.4 million funding from Goldman Sachs

Duke Energy Renewables, a subsidiary of Duke Energy, has closed a preferred tax equity funding of $109.4 million from Goldman Sachs’ Alternative Energy Investing Group. This investment will be used to implement around 75 MW of solar and solar with energy storage projects over an 18-month period. These projects will be developed and constructed by Duke Energy Renewables’ subsidiary REC Solar. The planned portfolio will feature a diverse range of projects including ground-mounted, rooftop commercial and industrial projects, as well as community solar projects spread across states such as Arizona, California, Colorado, Hawaii, Massachusetts and Texas. For this financing round, NextPower Capital acted as the financial adviser to Duke Energy Renewables and REC Solar. Meanwhile, Hunton Andrews Kurth LLP and O’Melveny & Myers LLP were the transaction legal counsels for Duke Energy Renewables and Goldman Sachs respectively.

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