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Duke Buys Arizona Solar Farms From Sharp’s Recurrent

By Andrew Herndon
December 12, 2011 8:54 PM EST

(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

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