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Duke Energy (NYSE:DUK) said Wednesday it agreed to sell its commercial distributed generation business to ArcLight Capital Partners for an enterprise value of $364M, and expects to receive ~$259M of proceeds from the deal.
The distributed generation business includes REC Solar operating assets, development pipeline and O&M portfolio, and distributed fuel cell projects managed by Bloom Energy (BE).
Duke (DUK) said the sale of the commercial renewables businesses streamlines its portfolio to focus on the growth of its regulated businesses, including investments to enhance grid reliability and help incorporate more than 30K MW of regulated renewable energy onto its system by 2035.
In early June, Duke (DUK) announced an agreement to sell its utility-scale renewables business platform.
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