Wells Fargo buys solar capability from the North Carolina undertaking
Wells Fargo is the latest major energy consumer to sign a renewable energy contract under Duke Energy's Green Source Advantage (GSA) program that builds on its solar expansion in North Carolina.
Wells Fargo will acquire more than 58 MW of solar capacity from the Blackburn Solar Project, a planned facility on 600 acres in Catawba County. It is developed, owned and operated by a subsidiary of NextEra Energy Resources LLC. Subject to local and state approvals, the project is expected to go online as early as 2022. The electricity generated will offset about 50% of the bank's energy consumption in the state.
"As large energy consumers seek to expand their sustainability goals, many find Duke Energy's GSA program to be the perfect solution," said Stephen De May, president of Duke Energy North Carolina. “The flexibility of the program enables the customer to adapt it to his needs. Our state benefits from the reduction of CO2 emissions and the use of renewable energies. "
The GSA program is a result of North Carolina's 2017 solar legislation. The GSA program enables large customers to offset their electricity purchases by securing renewable energy from projects connected to the Duke Energy grid. The customer can keep the renewable energy certificates (RECs) of the projects in order to achieve sustainability or carbon-free goals.
Duke Energy's GSA program provided Duke Energy's major North Carolina customers with 600 MW of capacity. A significant portion of the available capacity has already been used by the City of Charlotte, Bank of America and Duke University in previously announced projects.