Duke Energy Completes Sale of 1.2 GW Renewable Assets to John Hancock

North Carolina-based power utility, Duke Energy has announced that it has completed the sale of the previously announced minority interest in a portion (1.2 GW) of its commercial renewable energy portfolio owned and operated by its affiliate, Duke Energy Renewables, to John Hancock, a division of Manulife Financial Corporation. The total enterprise value of this portion of Duke Energy’s commercial renewable energy portfolio is approximately USD 1.25 billion (including proportional existing project-level debt). The sale will result in pre-tax proceeds to Duke Energy of USD 415 million. “We’re excited to begin partnering with John Hancock to continue providing clean and affordable energy to our customers across the country,” said Rob Caldwell, president of Duke Energy Renewables. “So far this year, we’ve announced more than 1,100 megawatts of additional renewable energy projects that will come online by the end of 2020, including our largest ever wind and solar projects. We see a bright future for renewables investment and this collaboration will help us deliver long-term value to customers and investors.”