Capital Power executes 20-year PPAs for three solar projects in North Carolina

Capital Power Corporation has executed 20-year power purchase agreements with Duke Energy Carolinas for three solar development projects located in North Carolina totaling 160 megawatts (MW). The solar projects consist of Hornet Solar (75 MW), Hunter’s Cove Solar (50 MW), and Bear Branch Solar (35 MW). Construction of the solar projects is expected to begin in late 2021 or early 2022 with commercial operations expected in the fourth quarter of 2022.

Palladium Energy LLC and Renewable Energy Services LLC assisted Capital Power on the project while the company continues to optimize project design, build cost, and tax equity financing. The initial build assumption includes US$198 million to construct the solar projects. Capital Power expects to finance the solar projects using debt and tax equity.