Duke Buys Arizona Solar Farms From Sharp’s Recurrent

(Corrects spelling of Pima County in second paragraph.)

Duke Energy Corp. (DUK) bought two solar plants in Arizona from developer Recurrent Energy Inc., a unit of Sharp Corp.

The 5-megawatt Ajo project in Pima County has 21,000 photovoltaic panels and began producing power in September, Charlotte, North Carolina-based Duke said today in a statement that didn’t give a price. The 15-megawatt Bagdad project, in Yavapai County, is expected to go into operation by the end of the year and will use 72,000 panels.

Both projects have 25-year power-purchase agreements with utility Arizona Public Service Co.

To contact the reporter on this story: Andrew Herndon in San Francisco at aherndon2@bloomberg.net

To contact the editor responsible for this story: Will Wade at wwade4@bloomberg.net