7x energy solar power development company

Duke Energy Renewables’ largest Texas solar project now online

100 MWac Lapetus facility is the first large-scale solar project in Andrews County

CHARLOTTE, NC – Duke Energy Renewables, a subsidiary of Duke Energy (NYSE: DUK), announced that its 100-megawatt (MW- alternating current) Lapetus Solar project in Andrews County, Texas, began commercial operation in December 2019.

It is Duke Energy’s second solar project in commercial operation in Texas and the first large-scale solar project in Andrews County.

“Texas ranks fourth in the country for solar energy. We’re thrilled that Lapetus Solar is now online and will contribute to the growth of the community’s clean energy facilities,” said Rob Caldwell, president, Duke Energy Renewables.

The project, which Duke Energy Renewables acquired from 7X Energy in February 2019, employed as many as 240 individuals during the peak construction period. It contains over 340,000 solar panels and is located on approximately 800 acres outside of Andrews, Texas.

“7X originated and developed the Lapetus Solar project, and we are proud to help bring Andrews County its first large-scale solar project,” said Clay Butler, president and CEO of 7X Energy. “We are grateful to Andrews County for welcoming solar to the local community and the economic benefits it brings.”

The energy generated from the Lapetus Solar project will be delivered to the ERCOT grid and is being sold under three multiyear power purchase agreements (PPA) to Brazos Electric Power Cooperative Inc. on behalf of CoServ Electric and seven other distribution cooperative members.

The facility’s design, procurement of PV modules, inverters, balance of plant systems, and construction of the project were performed by Swinerton Renewable Energy. Duke Energy Renewables completed project development, managed the construction of the project and will operate and manage the facility.

In addition to the Lapetus Solar project in Andrews County, in 2019 Duke Energy Renewables announced the acquisition of the 200-MWac Holstein Solar project in Nolan County and the 200-MWac Rambler Solar project in Tom Green County, Texas. Both projects will be in commercial operation by mid-2020.

Duke Energy is one of the nation’s top renewable energy providers – on track to own or purchase 8,000 megawatts of wind, solar and biomass energy by the end of 2020.

For additional information on the Lapetus Energy Project, please visit here.

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7X Energy

7X Energy (7X), founded in 2016 and headquartered in Austin, Texas, is a leading developer in the solar industry that has originated and developed approximately 1,500 megawatts of solar projects either under construction or operational across the U.S. The company is independently owned and consists of a diverse team of seasoned industry veterans, with over 10,000 megawatts of collective utility-scale development expertise. Contact us at www.7X.Energy. Follow us on Twitter and LinkedIn.

Brazos Electric

Brazos Electric Power Cooperative, Inc. is the largest electric generation and transmission cooperative in Texas. Based in Waco, it supplies electricity to 16 member cooperatives throughout Texas.

CoServ

CoServ Electric is a nonprofit electric cooperative serving more than 250,000 meters in the suburbs north of Dallas-Fort Worth. It is one of the largest and fastest-growing electric co-ops in the country.

Duke Energy Renewables

Duke Energy Renewables, a nonregulated unit of Duke Energy, operates wind and solar generation facilities across the U.S., with a total electric capacity of 3,000 megawatts. The power is sold to electric utilities, electric cooperatives, municipalities, and commercial and industrial customers. The unit also operates energy storage and microgrid projects. Visit Duke Energy Renewables for more information.

Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, in addition to Duke Energy Renewables’ capacity.

Duke Energy is transforming its customers’ experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves.

Duke Energy was named to Fortune’s 2020 “World’s Most Admired Companies” list, and Forbes’ 2019 “America’s Best Employers” list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy’s illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.

Cautionary Language Concerning Forward-Looking Statements
This document includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are based on management’s beliefs and assumptions. These forward-looking statements are identified by terms and phrases such as “anticipate,” “believe,” “intend,” “estimate,” “expect,” “continue,” “should,” “could,” “may,” “plan,” “project,” “predict,” “will,” “potential,” “forecast,” “target,” “outlook,” “guidance,” and similar expressions. Various factors may cause actual results to be materially different than the suggested outcomes within forward-looking statements; accordingly, there is no assurance that such results will be realized. These risks and uncertainties are identified and discussed in Duke Energy’s Form 10-K for the year ended December 31, 2018, and subsequent quarterly reports filed with the Securities and Exchange Commission (“SEC”) and available at the SEC’s website at www.sec.gov. In light of these risks, uncertainties and assumptions, the events described in the forward-looking statements might not occur or might occur to a different extent or at a different time than Duke Energy has described. Duke Energy expressly disclaims an obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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