The investment will conclude the request for proposals (RFP) issued by the company in February 2014 for new solar capacity.
The company plans to acquire and construct three solar power facilities, which will have a total capacity of 128MW and will be located in Bladen, Duplin and Wilson counties.
In addition, Duke Energy signed power-purchase agreements with five new solar projects in the state, which represent 150MW of capacity.
The $500m commitment made by the company includes investment on three facilities as well as the value of the five power-purchase contracts.
The three projects include 65MW Warsaw solar facility in Duplin County, 40MW Elm City solar facility in Wilson County and 23MW Fayetteville solar facility in Bladen.
The five projects include the 48MW in Bladen County, 48MW in Richmond County, 20MW in Scotland County, 19MW in Cleveland County and 15MW in Beaufort County.
The eight projects, which will have a combined capacity of 278MW, are expected to meet North Carolina’s Renewable Energy and Energy Efficiency Portfolio Standard (REPS).
Duke Energy will be responsible for building the facilities and will commence operations by the end of 2015.
The company generates 50,000MW of capacity across the country.
