Duke Energy Sustainable Solutions, a commercial venture spinoff of the North Carolina-based utility giant, has acquired the Pike Solar power plant currently under construction in El Paso County, Colorado.
Developer JUWI is selling the project to Duke Energy Sustainable Solutions. Pike Solar, once operational, will provide electricity to customers of Colorado Springs Utilities.
Under the terms of the acquisition, DESS will handle the procurement of solar modules, while JUWI is responsible for the engineering, procurement and construction of the project.
The plant, which will contain over 414,000 solar panels on 1,310 acres just outside the city limits of Colorado Springs, is expected to provide 175 MW of electricity to the utility’s customers, enough to power around 46,300 homes.
With the addition of Pike Solar, DESS has three solar projects in Colorado totaling 248 MW.
“We’re pleased to continue expanding our solar portfolio in Colorado,” said Chris Fallon, President of DESS. “This project will support the renewable energy goals of Colorado Springs Utilities and allow them to reduce energy costs while providing diverse and cleaner energy solutions for their customers.”
The project is expected to achieve commercial operation in late 2023 and employ 350 people at peak construction. DESS and JUWI will each have operation and maintenance responsibilities.
Colorado Springs Utilities has signed a deal to buy the electricity generated by the plant for a period of 17 years.
“This is an exciting development for us as Pike Solar will be the largest solar facility on our system and represents a significant step on our journey to diversify our energy mix,” said Travas Deal, Acting Chief Executive Officer for Colorado Springs Utilities. “Projects like Pike Solar are integral to our ability to reach our Energy Vision goal of achieving 80-percent carbon reduction by 2030.”
DESS is a non-regulated commercial brand of Duke Energy, a North Carolina-based energy holding company with more than 10,500 MW of solar and wind energy.