Bloomberg News

Duke Buys Arizona Solar Project From Panel Maker Solon

May 02, 2012

(Corrects company name in first and last paragraphs.)

Duke Energy Corp. (DUK:US), the owner of electric utilities in five U.S. states, bought a 10-megawatt solar plant in Arizona from Solon Corp., formerly a unit of the bankrupt German solar company Solon SE.

Power from the Black Mountain Solar Project will be sold to UniSource Energy Corp. (UNS:US) under a 20-year power contract, Charlotte, North Carolina-based Duke said today in a statement. Terms for Duke’s purchase and the power contract weren’t disclosed.

The plant is under construction near Kingman, Arizona, and is expected to begin producing power in October. It’s Duke’s 12th solar farm, bringing total owned capacity to 59 megawatts, according to a fact sheet on its website.

Solon Corp. was bought in March by Microsol International when the United Arab Emirates-based solar-cell maker acquired most of the assets of Solon SE (SOO1), which filed for insolvency protection Dec. 13.

To contact the reporter on this story: Ehren Goossens in New York at egoossens1@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net


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Companies Mentioned

  • DUK
    (Duke Energy Corp)
    • $72.16 USD
    • -0.23
    • -0.32%
  • UNS
    (UNS Energy Corp)
    • $60.4 USD
    • 0.01
    • 0.02%
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