M&A Deal Summary

Duke Energy Acquires 8minute Solar Energy - 200-MW Holstein Solar Project

On July 22, 2019, Duke Energy acquired renewable energy company 8minute Solar Energy - 200-MW Holstein Solar Project from 8minutenergy Renewables - 121 MW Springbok 3 Solar Project

Acquisition Highlights
  • This is Duke Energy’s 2nd transaction in the Renewable Energy sector.
  • This is Duke Energy’s 9th transaction in the United States.
  • This is Duke Energy’s 2nd transaction in California.

M&A Deal Summary
Date 2019-07-22
Target 8minute Solar Energy - 200-MW Holstein Solar Project
Sector Renewable Energy
Buyer(s) Duke Energy
Sellers(s) 8minutenergy Renewables - 121 MW Springbok 3 Solar Project
Deal Type Divestiture

Target

8minute Solar Energy - 200-MW Holstein Solar Project

San Francisco, California, United States
8minute Solar Energy - 200-MW Holstein Solar Project located in Nolan County, Texas. The 200-MW project will contain over 709,000 solar panels across approximately 1,300 acres in Wingate, Texas. Construction began in the summer of 2019 and is expected to be complete in the summer of 2020. The Holstein solar project will power the equivalent of 40,000 homes.

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Buyer(S) 1

Buyer

Duke Energy

Charlotte, North Carolina, United States
Category Company
Founded 1904
Sector Energy Services and Equipment
Employees27,859
Revenue 29.1B USD (2023)
DESCRIPTION

Duke Energy is an electric power holding companies in the United States. Its regulated utility operations serve approximately 4 million customers located in five states in the Southeast and Midwest, representing a population of approximately 11 million people. Its commercial power and international business segments own and operate diverse power generation assets in North America and Latin America, including a growing portfolio of renewable energy assets in the United States. Duke Energy was incorporated in 1904 and is based in Charlotte, North Carolina.

DEAL STATS #
Overall 10 of 12
Sector (Renewable Energy) 2 of 3
Type (Divestiture) 2 of 3
State (California) 2 of 3
Country (United States) 9 of 11
Year (2019) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-24 Duke Energy Renewables

Kansas, United States

Duke Energy Renewables LLC is a provider renewable energy services.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-12 Recurrent Energy - 200-MWac Texas Solar Project

San Francisco, California, United States

Recurrent Energy LLC - 200-MWac Texas Solar Project utilizes more than 733,000 of Canadian Solar's high-efficiency bifacial BiKu modules across approximately 1,700 acres west of San Angelo, Texas.

Buy -

Seller(S) 1

SELLER

8minutenergy Renewables - 121 MW Springbok 3 Solar Project

Kern County, California, United States
Category Company
Sector Renewable Energy
DESCRIPTION

8minutenergy Renewables 121 MW Springbok 3 Solar Project is the third installation in the Springbok cluster, joining 8minutenergy’s 137 MW-dc Springbok 1 project, and its 191 MW-dc Springbok 2 project to supply clean energy to more than 152,000 Los Angeles households.

DEAL STATS #
Overall 1 of 1
Sector (Renewable Energy) 1 of 1
Type (Divestiture) 1 of 1
State (California) 1 of 1
Country (United States) 1 of 1
Year (2019) 1 of 1
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