Duke Energy (NYSE: DUK), Sumitomo Complete Wind Farms

Brian Hicks

Written By Brian Hicks

Posted October 22, 2012

Last week, Duke Energy (NYSE: DUK) and Sumitomo Corp. (TYO: 8053) stated that they have completed two Kansas wind farms, part of the 168-megawatt Ironwood Windpower Project.

A 20-year agreement will allow Westar Energy (NYSE: WR) to purchase all electricity and related renewable energy credits produced at the Ironwood project.

In April, Duke Energy Renewables sold a 50-percent stake in Ironwood and the 131-MW Cimarron II project to its joint venture partner Sumitomo. Currently, Duke operates and maintains both projects, while Sumitomo remains involved in active management, RenewablesBiz reports. A dedication event followed by a facility tour is scheduled for October 25.

Duke Energy Renewables is part of Duke Energy’s Commercial Businesses; it is committed to developing innovative wind and solar power projects, boasting a current portfolio of 13 wind farms and 12 solar farms in the U.S. Duke is headquartered in Charlotte, North Carolina.

Sumitomo Corporation of America is a wholly owned subsidiary of the Japanese Sumitomo Corp., an integrated trading and investment operation involved in a variety of businesses. It has consolidated assets amounting to $87.8 billion.

Angel Publishing Investor Club Discord - Chat Now

Brian Hicks Premium


Hydrogen Fuel Cells: The Downfall of Tesla?

Lithium has been the front-runner in the battery technology market for years, but that is all coming to an end. Elon Musk is against them, but Jeff Bezos is investing heavily in them. Hydrogen Fuel Cells will turn the battery market upside down and we've discovered a tiny company that is going to make it happen...

Sign up to receive your free report. After signing up, you'll begin receiving the Energy and Capital e-letter daily.