The deal follows an earlier $210 million financing package for a 260 MW Texas solar project.
The new rates, which include minimum monthly bills, non-bypassable charges, and grid access fees for larger systems, will now go before state regulators for approval.
The firm paid more than $90 million to Copenhagen Infrastructure Partners for eight solar projects in North Carolina.
The battery, which uses an electrolyte to convert chemical energy into electricity for storage and deployment, will begin testing in 2022 at Duke Energy’s Emerging Technology and Innovation Center in Mount Holly, North Carolina.
The company said it has lined up financing and started work on the 70 MW Stanly Solar project.
The bill’s long-term commitments reduced oversight for Duke Energy outweigh the renewable capacity increases and coal retirements it promises, according to those against it.
A North Carolina energy provider will buy the project’s full output through a 25-year fully bundled Power Purchase Agreement.
The partnership is the two companies’ second under Soltage’s Iris capital vehicle, and the two ultimately plan on deploying 450 MW of new distributed solar and storage projects across the United States together.
Trent River Solar is one of the first to be awarded a 20-year PPA through Duke Energy’s Competitive Procurement of Renewable Energy program.
House Bill 951 would lead to a huge procurement of renewables, but is soured by the additions of gigawatt-scale natural gas capacity, reduced regulator authority, and potential multi-year rate hikes.
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