Duke Energy and Wells Fargo & Co. announced Thursday a 20-year renewable energy purchase agreement under which the bank will use all of the production from the Blackburn Solar Project.
The project is a 58-megawatt, 600-acre solar farm planned for Catawba County through Duke Energy’s Green Source Advantage program.
The project is expected to produce about 8% of the bank’s annual global electricity, as well as meet more than 50% of total electricity needs and 100% of its eligible load within the Duke Energy Carolinas service area.
Wells Fargo has within the Duke Energy Carolinas service area a real-estate footprint of 7.5 million square feet with 36,000 employees.
The 130,000 megawatt-hours Wells Fargo will receive each year will be generated by about 200,000 solar panels. The facility will be developed, owned, and operated by a subsidiary of Florida-based NextEra Energy Resources, and is scheduled to come online in 2022.
Wells Fargo will retain the Renewable Energy Credits associated with the project.