Friday, November 2, 2007

Duke Energy Wants To Buy A Solar Developer

Duke is a member of US-CAP
From Dow Jones via CNN Money:

Looking to develop its renewable energy portfolio, Duke Energy Corp. (DUK) is seeking to acquire a solar project development company, Clean Technology Investor has learned.

In May, the Charlotte, N.C.-based power company bought Austin, Texas-based wind-power development business Tierra Energy LLC from Energy Investors Funds for an undisclosed sum. That acquisition included more than 1,000 megawatts of wind assets under development in the Western and Southwestern U.S.

(This story also appeared in Clean Technology Investor, a newsletter and information service published by Dow Jones & Co.)

Now the company is looking to broaden its renewable power project development expertise by adding a solar developer to the mix. The company is "actively pursuing some joint ventures and potential acquisitions of solar developers," said David Mohler, Duke Energy's chief technology officer, in an interview. " That's a model that's very interesting."...MORE