CHARLOTTE, N.C., May 10, 2016 /PRNewswire/ -- Duke Energy Renewables today announced construction has begun on the 25-megawatt (MW) Caprock Solar Power Project near Tucumcari in Quay County, New Mexico.
The company acquired the project from Infigen Energy.
With completion expected later this year, the solar installation will generate enough energy to power about 5,000 average homes.
Power from the project will be sold to Western Farmers Electric Cooperative (WFEC) under a 25-year agreement.
"We are pleased to bring this solar project to New Mexico and add the state to our growing U.S. renewables footprint," said Greg Wolf, president, Duke Energy Commercial Portfolio. "We're also excited to be partnering with a progressive cooperative like WFEC, which reflects our commitment to provide clean energy solutions for utilities, cooperatives, municipalities, corporations and other organizations."
Brian Hobbs, WFEC vice president of legal and corporate services, explained that WFEC has been looking at solar energy for about 10 years. "The costs of installing solar have dramatically decreased in the past few years and are much closer to competing with more traditional forms of generation. Coupled with other benefits, such as no ongoing fuel costs and decreased emissions, we felt the timing was right to introduce solar into our generation mix.
"We believe diversity of electric generation resources and technology is vital to long-term, low-cost electric energy," Hobbs added. "That's why we maintain such a diverse portfolio. WFEC is pleased to work with Duke Energy Renewables to bring solar energy to rural electric cooperative members in southeast New Mexico."
EPC contractor Swinerton Renewable Energy will build the solar project, which will consist of more than 103,000 solar panels manufactured by Jinko Solar.
In its commercial business and regulated utilities, Duke Energy owns and operates more than 2,600 MW of wind and solar energy – enough to power 720,000 average homes at peak production. The company has invested more than $4 billion in renewable energy and plans to invest another $3 billion over the next five years.
About Duke Energy Renewables
Duke Energy Renewables, part of Duke Energy's Commercial Portfolio, is a leader in developing innovative wind and solar energy generation projects for customers throughout the United States. The company's growing portfolio of commercial renewable assets includes 18 wind farms and 43 solar farms in operation in 13 states, totaling about 2,500 megawatts in electric-generating capacity. Learn more at www.duke-energy.com/renewables.
About Western Farmers Electric Cooperative
Western Farmers Electric Cooperative (WFEC), organized in 1941, is a generation and transmission (G&T) cooperative that provides electric service to 21 member cooperatives and Altus Air Force Base. These members are located primarily in Oklahoma and New Mexico, with some service territories extending into portions of Texas and Kansas. Now in its 75th year of operation, the Anadarko-based G&T has six generating facilities, located at Mooreland, Anadarko and Hugo, Oklahoma, and Lovington, New Mexico. WFEC maintains a well-balanced and diversified portfolio, with a total power capacity of more than 2,400 megawatts, including hydropower allocation and other contract power purchases. WFEC owns and maintains more than 3,700 miles of transmission line to more than 330 substations and switch stations.
Contact: Tammie McGee
SOURCE Duke Energy