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Duke Energy Renewables completes acquisition of Shoreham Solar Commons project from Invenergy

- 24.9-megawatt site in New York is on line, providing clean energy to Long Island

- Facility is one of largest solar projects in the state

CHARLOTTE, N.C., July 9, 2018 /PRNewswire/ -- Duke Energy Renewables today announced it has completed the acquisition of the 24.9-megawatt Shoreham Solar Commons project on Long Island from Invenergy.

Duke Energy, the nation's largest electric utility, unveils its new logo. (PRNewsFoto/Duke Energy) (PRNewsfoto/Duke Energy)

Shoreham Solar Commons is located in Brookhaven, New York, about 60 miles east of Manhattan, on the site of the former Tallgrass Golf Course.

It was placed into service July 1, and the Long Island Power Authority (LIPA) is purchasing the power under a 20-year agreement.

"As we continue to provide affordable, renewable energy to customers across the United States, we are especially pleased our first renewables project in New York helps meet the sustainability goals and energy needs of LIPA's customers and offers economic benefits to the local community," said Rob Caldwell, president, Duke Energy Renewables and Distributed Energy Technology.

The project is expected to generate between $700,000 and $900,000 in annual tax revenue. The energy produced is estimated to displace 29,000 tons of greenhouse gas emissions annually and create nearly 1 million megawatt-hours of clean, renewable energy over its lifetime.

"Repurposing the former Tallgrass Golf Course into a solar site eliminates the use of pesticides and fertilizers on the property, protecting Long Island's fresh water aquifer," said Invenergy's EVP and Chief Development Officer Bryan Schueler. "We also planted 2,000 trees on the site, providing further environmental benefits in addition to the generation of renewable energy."

Duke Energy Renewables

Duke Energy Renewables primarily acquires, develops, builds and operates wind and solar electric generation facilities across the U.S. The portfolio includes nonregulated renewable energy, as well as energy storage assets.

Duke Energy Renewables' utility-scale wind and solar assets total about 2,900 megawatts (MW) – across 14 states – from 21 wind and 64 solar projects. The power produced by these projects is primarily sold through long-term contracts to utilities, electric cooperatives, municipalities, and commercial and industrial customers. Visit Duke Energy Renewables  for more information.

Duke Energy Renewables is part of the Commercial Renewables business unit of Duke Energy (DUK).

More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.

Invenergy

Invenergy, North America's largest, privately held renewable energy company, drives innovation in energy. Invenergy and its affiliated companies develop, own, and operate large-scale renewable and other clean energy generation and storage facilities in the Americas, Europe and Asia. Invenergy's home office is located in Chicago and it has regional development offices in the United States, Canada, Mexico, Japan, Poland and Scotland.

Invenergy has developed more than 19,900 megawatts of projects that are in operation, construction or contracted, including wind, solar and natural gas power generation projects and energy storage facilities. For more information, please visit www.invenergyllc.com.

Duke Energy media contact: Tammie McGee
800.559.3853                                                                                                                                   

Invenergy media contact: Mary Ryan
312.582.1424

Cision

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