Duke to sell 1.2 GW, $1.25B in renewables assets

Duke Energy announced Thursday it has reached a deal to sell a minority interest in a portion of its commercial renewable energy portfolio, helping to fund capital plans and reduce future debt issuance needs. The assets, owned and operated by Duke Energy Renewables and with an enterprise value of approximately $1.25 billion, will be sold to John Hancock Infrastructure Fund (JHIF) and John Hancock Life Insurance Co., both divisions of Manulife Financial. The deal includes 49% of 37 operating wind, solar and battery storage assets, and 33% of 11 operating solar assets across the U.S. In total, John Hancock's interest will be approximately 1.2 GW of generating capacity.