On July 5, 2023, Duke Energy announced that it has reached an agreement to sell its commercial distributed generation business to an affiliate of ArcLight Capital Partners, LLC, a middle market infrastructure investor, for an enterprise value of $364 million.[1] The utility expects approximately $259 million of proceeds from this transaction. Duke Energy intends to finalize the sales for its utility-scale and distributed generation businesses by the end of 2023 and will utilize the proceeds to strengthen its balance sheet and avoid additional holding company debt issuances associated with these assets. The distributed generation business being sold includes REC Solar operating assets, development pipeline, O&M portfolio, and distributed fuel cell projects managed by Bloom Energy. The transaction is subject to the satisfaction of customary closing conditions, including the expiration of the waiting period under the Hart-Scott-Rodino Act. In addition, approval from the Federal Energy Regulatory Commission (FERC) will be required for the sale of the Bloom Energy distributed fuel cell assets.

[1] https://investors.duke-energy.com/news/news-details/2023/Duke-Energy-to-sell-commercial-distributed-generation-business-to-ArcLight-for-364-million/default.aspx