Published: 26 April 2019 26 April 2019
Duke Energy has announced that it has entered into a definitive agreement to sell a minority interest in a portion of its commercial renewable energy portfolio owned and operated by its affiliate, Duke Energy Renewables, to the John Hancock, a division of Manulife Financial Corporation.
The total enterprise value of this portion of Duke Energy’s commercial renewable energy portfolio is approximately $1.25 billion. The portion of Duke Energy’s commercial renewables energy portfolio to be sold includes 49% of 37 operating wind, solar and battery storage assets and 33% of 11 operating solar assets across the U.S. Once the sale has closed, John Hancock’s interest will represent approximately 1.2GW of generating capacity. John Hancock will also have the right to acquire a minority interest in certain additional wind and solar projects in the future.