CHARLOTTE, N.C. -- Duke Energy has bought a San Francisco solar project from developer Recurrent Energy.
Financial terms were not disclosed.
The deal between Recurrent Energy and Duke's commercial business division, Duke Energy Renewables, is for the Sunset Reservoir solar power project, the biggest solar generation facility in San Francisco. The solar power system includes nearly 24,000 solar panels mounted on top of the Sunset Reservoir. The facility provides electricity for San Francisco's municipal services and facilities.
The acquisition comes four months after Duke Energy Renewables bought the Highlander solar power projects in Twentynine Palms.
Shares of Duke Energy, which is based in Charlotte, N.C., shed 75 cents to $68.27 in afternoon trading. Last week the utility reported a sharp drop in second-quarter profit on costs related to closing a crippled nuclear power station in Florida and milder weather in its service territory.