Duke Energy Carolinas has closed on $1 billion worth of “green bonds” the utility can use to finance solar projects it builds and other clean-energy investments it makes in the next several years.
Much of the money is likely to fund construction and operation of solar farms that Duke purchases or runs through the competitive bidding process that started just this year in the Carolinas.
The funds can also be used for other clean-energy efforts, such as Duke's plans to install hundreds of million of dollars worth of battery storage in the Carolinas over the few years.
But the money can also be used to pay for existing clean-energy projects. And it could also go toward financing power-purchase agreements Duke makes with renewable projects that it does not own and fund investments such as solar rebates the company is now offering to residential and commercial customers.
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