Duke Energy 250 MW solar plant now online in Texas

Duke Energy (NYSE:DUK) said Wednesday it has started operations at its largest solar power plant ever, the 250 MW Pisgah Ridge Solar project in Navarro County, Texas.

Three companies - Charles River Laboratories (CRL), Midwest retailer Meijer and an unnamed company - have purchased output for the project under 15-year virtual power purchase agreements.

Charles River Labs (CRL) has a VPPA for 102 MW from Pisgah Ridge, addressing all of the company's North American electric power load with clean, renewable energy by 2023.

Duke Energy (DUK) operates nearly 1,500 MW of wind, 750 MW of solar and a 36-MW battery storage facility in Texas.

Duke Energy (DUK) is adding to revenue and diversifying its energy portfolio by incorporating renewable sources, but the future is "uncertain," Blake Downer writes in an analysis published recently on Seeking Alpha.