Duke Energy Renewables has purchased the 100 MW Lapetus solar energy project in Andrews County, Texas from 7X Energy.
7X, the original owner and developer, will transition the last stages of development of the solar project located on an approximately 800-acres site to Duke Energyt. Lapetus will begin operations by the end of the year.
CohnReznick Capital, an investment bank serving the renewable energy industry, acted as financial advisor to 7X Energy on the sale.
Lapetus, which is expected to start before the end of March, will be the first large scale solar project in Andrews County. The solar facility will bring approximately 150 jobs to the county and generate over $20 million in local property tax revenue.
Duke Energy Renewables will deliver solar energy from Lapetus in SolarBlocks to ERCOT (Electric Reliability Council of Texas). Brazos Electric Power Cooperative will buy energy on behalf of CoServ Electric and seven other distribution cooperative members.
“Our focus is generating cleaner energy for the state of Texas and this solar project will do just that,” said Rob Caldwell, president, Duke Energy Renewables and Distributed Energy Technology.
Duke Energy Renewables’ utility-scale wind and solar assets total about 2,900 MW – across 14 states – from 21 wind and 64 solar projects.