Duke Energy Expands Wind Portfolio With Purchase of Catamount
Charlotte, North Carolina-based electric company Duke Energy has expanded its renewable energy portfolio with the purchase of Rutland, Vermont’s Catamount Energy Corp.. Catamount Energy was formed in 1992, and since 2001 has been developing wind projects in the several US states, as well as in the United Kingdom. The acquisition is valued at $240 million, plus assumed debt.
The deal will add approximately 300 MW of wind power currently installed, plus an additional 1,750 MW of development interests, to Duke’s growing renewable efforts. The most recent example of this was the $100 million plan to install solar panels at over 850 sites in North Carolina.
Duke Energy supplies and distributes electricity to approximately 4 million US customers. Though approximately 90% of Duke's output is coal-fired, this is another example of the small steps the company is making to green its energy production.
:: Duke Energy
photo courtesy of Catamount Energy Corp.
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