Duke Energy begins construction on largest solar plant in Surry County, N.C.

CHARLOTTE, N.C., June 22, 2021 /PRNewswire/ -- Duke Energy continues to expand solar power in North Carolina with construction starting on its 22.6-megawatt (MW) Stony Knoll Solar power plant. Once completed, it will be the largest solar plant in Surry County.

The project will be owned and operated by Duke Energy Sustainable Solutions.* The project was selected as part of the competitive bidding process established by 2017's solar legislation in North Carolina.

The solar plant will contain 76,600 Trina Solar bifacial modules with single-axis tracking. The plant will be located on 195 acres in Dobson, N.C. – near Rockford Road. The facility will power the equivalent of 5,000 homes. It is targeting commercial operation by the end of 2021.

"Duke Energy is bringing more carbon-free, renewable energy to customers in North Carolina. We're pleased to add Surry County to our ever-growing list of solar locations as we significantly reduce carbon emissions on our path to achieve net-zero carbon emissions by 2050," said Stephen De May, Duke Energy's North Carolina president.

Under North Carolina's Competitive Procurement for Renewable Energy, proposed projects must be built where there is a need for energy capacity on the Duke Energy system in North Carolina or South Carolina. The bids can come from any company, including Duke Energy, and can be in the form of power purchase agreements (PPA), utility self-developed facilities or utility asset acquisitions.

"We're pleased to continue to build upon the renewable energy resources in the state. The Stony Knoll solar project marks the third facility that we have announced in North Carolina this year and demonstrates our continued commitment to increasing clean energy generation in the state," said Chris Fallon, president of Duke Energy Sustainable Solutions.

During peak construction, Stony Knoll Solar will create about 70 jobs. Along with indirect economic benefits that accompany solar project development, such as increased local spending in the service and construction industries, Stony Knoll Solar will also have a positive economic impact on the local community by providing local tax revenues to the county and local school districts, as well as meaningful payments to the participating landowners.

Duke Energy Sustainable Solutions also supports the communities where its facilities and team members are based through the efforts of the Duke Energy Foundation. In January, the company awarded $10,000 to Copeland Elementary School in Dobson to fund the purchase of Chromebooks for students.

The facility's design, procurement of inverters, balance of plant systems and construction of the project will be performed by Swinerton Renewable Energy. The energy generated by Stony Knoll will be delivered through a 20-year power purchase agreement with Duke Energy Carolinas.

A leader in renewable energy

Duke Energy maintains more than 3,700 MW of solar power on its energy grid in North Carolina, which could power about 700,000 homes and businesses at peak output. The company also operates more than 40 solar facilities in the state. North Carolina currently ranks No. 3 in the nation for overall solar power. With nuclear, hydro and renewable energy, more than half of North Carolina's energy mix is carbon-free.

As one of the nation's top renewable energy providers, Duke Energy plans to double its enterprisewide renewable portfolio from 8 gigawatts (GW) of capacity to 16 GW by the end of 2025.

Duke Energy Sustainable Solutions

Duke Energy Sustainable Solutions is a nonregulated commercial brand of Duke Energy (NYSE: DUK) – a Fortune 150 company and one of the largest energy holding companies in the U.S. – headquartered in Charlotte, N.C.

Duke Energy Sustainable Solutions is a leader in sustainable energy, helping large enterprises reduce power costs, lower emissions and increase resiliency. The team provides wind, solar, resilient backup power and managed energy services to over 1,000 projects across the U.S., with a total electric capacity of more than 5,100 megawatts of nonregulated renewable energy. Visit Duke Energy Sustainable Solutions and follow on LinkedIn and YouTube for more information.

Duke Energy is executing an aggressive clean energy strategy to create a smarter energy future for its customers and communities – with goals of at least a 50% carbon reduction by 2030 and net-zero carbon emissions by 2050. The company is a top U.S. renewable energy provider, on track to operate or purchase 16,000 megawatts of renewable energy capacity by 2025. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.

Cautionary Language Concerning Forward-Looking Statements.

This document includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are based on management's beliefs and assumptions. These forward-looking statements are identified by terms and phrases such as "anticipate," "believe," "intend," "estimate," "expect," "continue," "should," "could," "may," "plan," "project," "predict," "will," "potential," "forecast," "target," "outlook," "guidance," and similar expressions. Various factors may cause actual results to be materially different than the suggested outcomes within forward-looking statements; accordingly, there is no assurance that such results will be realized. These risks and uncertainties are identified and discussed in Duke Energy's most recent Annual Report on Form 10-K and subsequent quarterly reports on Form 10-Q filed with the Securities and Exchange Commission ("SEC") and available at the SEC's website at www.sec.gov. In light of these risks, uncertainties and assumptions, the events described in the forward-looking statements might not occur or might occur to a different extent or at a different time than Duke Energy has described. Duke Energy expressly disclaims an obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

* Duke Energy Sustainable Solutions is a non-regulated commercial brand of Duke Energy Corporation, which includes the following subsidiaries of Duke Energy Corporation that are registered to transact business in various states and may be branded as Duke Energy Sustainable Solutions for marketing purposes: Duke Energy One, Inc.; Duke Energy Commercial Enterprises, Inc.; Duke Energy Renewables, Inc.; Duke Energy Renewables Commercial, LLC; Duke Energy Renewable Services, LLC.; Duke Energy Renewables Storage, LLC; Duke Energy Renewables Wind, LLC.; Duke Energy Renewables Solar, LLC.; and REC Solar Commercial Corporation.

Contact: Randy Wheeless
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Twitter: @DE_RandyW

SOURCE Duke Energy

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