Duke Energy agrees to sell Commercial Renewables unit to Brookfield in deal valued about US$2.8-billion

The proceeds are also expected to help strengthen its balance sheet, avoid additional debt and improve grid reliability.

Charlotte, North Carolina-based Duke is planning to spend $65-billion over the next five years, most of it directed toward its transition to low-carbon energy sources, the company’s CFO told Reuters last week. The sale agreement with renewable power assets operator Brookfield Renewable includes more than 3,400 megawatts of utility-scale solar, wind and battery storage across the United States, along with operations, new project development and current projects under construction, Duke said on Monday.

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