Wells Fargo Joins Duke Energy, NextEra to Expand Solar Use in NC
April 08 2021 - 11:08AM
Dow Jones News
By Stephen Nakrosis
Wells Fargo & Co. on Thursday said it would be working with
Duke Energy Corp. and NextEra Energy Resources LLC to increase its
use of solar energy in North Carolina under Duke's Green Source
Advantage program.
Wells Fargo said as part of a 20-year renewable energy purchase
agreement, it will consume 100% of the solar energy produced by the
Blackburn Solar Project. The project is a 58-megawatt 600-acre
solar farm which is slated to be built in Catawba County, N.C.
The project will be developed, owned and operated by a
subsidiary of NextEra Energy, Duke said, adding the project is
scheduled to come online as early as 2022.
Wells Fargo said energy provided under the deal will let it meet
more than 50% of total electricity needs and 100% of its eligible
load within the Duke Energy Carolinas service area.
"Investing in solar energy development in North Carolina will
support job creation, tax revenue, reduced carbon emissions and
grid resiliency," said Nate Hurst, head of Social Impact and
Sustainability at Wells Fargo. "We appreciate the collaboration
with Duke and NextEra to advance our enterprise sustainability
goals in a way that benefits the local economy."
Duke said its Green Source Advantage program lets large
customers "offset their power purchases by securing renewable
energy from projects connected to the Duke Energy grid."
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
April 08, 2021 11:53 ET (15:53 GMT)
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