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Duke announces solar investment

Duke Energy says it has formed a partnership with two other companies to build and finance solar projects across the United States.

Duke Energy Generation Services, a nonregulated commercial unit that develops power projects, will join Integrys Energy Services in jointly owning rooftop and smaller ground-mounted photovoltaic solar arrays. The projects will sell electricity to commercial, government and utility customers under long-term agreements.

Smart Energy Capital, a Mount Kisco, N.Y., firm focused on solar power, will develop and arrange financing for the projects.

The arrangement will allow renewable energy to be delivered close to where it will be used, with reliable financing, the companies said. Over the next two years, Duke and Integrys expect to invest up to $180 million in capital for projects of 500 kilowatts and larger, and will operate the installations.

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