7X Energy, Inc. ("7X"), a leader in solar development in the U.S., today announced the sale of the 100-megawatt (MW) Lapetus Solar Energy Project in Andrews County, Texas to Duke Energy Renewables.
7X, the original owner and developer, will transition the last stages of development of the solar project to Duke Energy, which also will manage construction and serve as the long-term owner and operator of the project. CohnReznick Capital, a leading investment bank serving the renewable energy industry, acted as financial advisor to 7X Energy on the sale.
"Our focus is generating cleaner energy for the state of Texas and this solar project will do just that," said Rob Caldwell, president, Duke Energy Renewables and Distributed Energy Technology. "We are pleased to partner with these communities in Texas to build and own facilities that offer customers additional options to use solar energy."
"We are excited to play a role in accelerating the growth of the Texas solar market. This transaction underscores the growing demand for renewable energy and the many economic and employment opportunities continued development brings," said Frank Palladino, Managing Director at CohnReznick Capital.
Duke Energy Renewables
Duke Energy Renewables primarily acquires, develops, builds and operates wind and solar electric generation facilities across the U.S. The portfolio includes nonregulated renewable energy, as well as energy storage assets.
Duke Energy Renewables is part of the Commercial Renewables business unit of Duke Energy (NYSE:DUK).
7X Energy
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