Duke Energy plans to sell 49% of 37 operational solar, battery storage and wind assets, and 11 of a third operational solar assets worth $1.25bn to the John Hancock Infrastructure Fund and John Hancock Life Insurance. North Carolina-based Duke will use the proceeds to fund capital plans and reduce the need for future debt issuance. Duke will receive a pre-tax figure of $415m from the sale, while retaining most of the tax benefits from the projects, in which it will still own a majority stake. The deal is subject to approvals.
Duke Energy plans to sell 49% of 37 operational solar, battery storage and wind assets, and a third of 11 operational solar assets worth $1.25bn to the John Hancock Infrastructure Fund and John Hancock Life Insurance. North Carolina-based Duke will use the proceeds to fund capital plans and reduce the need for future debt issuance. Duke will receive a pre-tax figure of $415m from the sale, while retaining most of the tax benefits from the projects, in which it will still own a majority stake. The deal is subject to approvals.