Duke Energy Renewables has acquires Lapetus Solar Energy Project in Andrews County, Texas. CohnReznick Capital served as the seller’s financial advisor.

The 100 megawatt solar farm is currently in its final stages of development. The original owner and developer, 7X will hand it over to Duke Energy. Also it will mnage construction and serve as the long term owner and operator of the project. Lapetus will occupy approximately 800 acres. Construction is scheduled to begin before the end of March. The project is the first scale solar project in the county.

According to a news in CP Executive, once operational, the facility’s solar energy will be sold in SolarBlocks under a power purchase agreement arranged by 7X and Duke Energy Renewables. It will be delivered to the Electric Reliability Council of Texas. Brazos Electric Power Cooperative could buy the solar energy on behalf of CoServ Electric and seven other distribution cooperative members.

Clay Butler, president & CEO of 7X Energy, said: “The sale of Lapetus is another milestone for 7X and advances our mission to rapidly deploy solar through innovation and agility to meet customer needs.”

Source: CP Exucutive

Fulya Altunyay/[email protected]