Duke Energy to Acquire Wisconsin Wind Energy Plant

Duke Energy (NYSE: DUK) will acquire a 20-megawatt wind farm in operation in Wisconsin. Duke Energy Renewables, a commercial business unit of Duke Energy, agreed to purchase the Shirley Wind power Project from a subsidiary of Central Hudson Enterprises Corporation on May 24. The wind farm is located on approximately 500 acres of leased land in Glenmore, roughly 30 miles southeast of Green Bay.

The Shirley Wind power Project, which began commercial operation in December 2010, sells all of its output and associated renewable energy credits to Wisconsin Public Service Corporation under the terms of a 20-year power purchase agreement. The eight Nordex 2.5-megawatt (MW) wind turbines that comprise the Shirley Wind power Project are capable of generating enough electricity to power approximately 6,000 homes.

‘Our strategic acquisition of the Shirley Windpower Project not only helps us reach the 1,000-megawatt milestone, it serves as a springboard for growth in a new region of the United States,’ said Greg Wolf, president of Duke Energy Renewables.

The deal is expected to close this summer. The purchase price was not disclosed. With the addition of the Shirley project, Duke Energy Renewables will own 1,006 MW of generating capacity at 10 U.S. wind farms – four in Wyoming, three in Texas, one in Colorado, one in Pennsylvania, and one in Wisconsin.

On May 24, Duke Energy Renewables announced plans to start construction of a 168-MW wind power project in Kansas in the fall of 2011. Since 2007, Duke Energy has invested more than $1.5 billion to grow its commercial wind and solar power businesses.

Duke Energy Renewables, part of Duke Energy’s Commercial Businesses, is a leader in developing innovative wind and solar energy solutions for customers throughout the United States. The company’s growing portfolio of commercial renewable assets includes nine wind farms and four solar farms in operation in five states, totaling approximately 1,000 megawatts in electric-generating capacity. Headquartered in Charlotte, N.C., Duke Energy is a Fortune 500 company traded on the New York Stock Exchange under the symbol DUK.