Duke Energy has reached an agreement to sell its commercial distributed generation business to an affiliate of ArcLight Capital Partners for an enterprise value of $364 million.
“Our investment in Duke Energy’s commercial distributed generation business supports ArcLight’s long-standing strategy of acquiring operating assets from leading strategics and creating strong stand-alone renewable platforms. We believe this is an attractive opportunity to acquire a first-rate commercial distributed generation portfolio, partner with a talented team and build upon longstanding, high-quality customer relationships,” said Marco Gatti, managing director at ArcLight.
In early June, Duke Energy reached a sale agreement for its utility-scale renewables business platform. The company expects to finalize the sales for its utility-scale and distributed generation businesses by the end of 2023 and will utilize the proceeds to strengthen its balance sheet and avoid additional hold