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CHARLOTTE — Duke Energy Corp. has reached a deal to sell a piece of its commercial renewables business after putting it up for sale last year.
Duke announced Monday it would sell its utility-scale commercial renewables business to Brookfield Renewable Partners for $2.8 billion. The deal is expected to close by the end of the year.
Duke said it expected net proceeds from the deal to be approximately $1.1 billion.
The sale “will allow the company to focus on the growth of its regulated businesses, including investments to enhance grid reliability and help incorporate over 30,000 megawatts of regulated renewable energy into its system by 2035,” Duke said in a statement.
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