Duke Energy this week said it has a definitive agreement to sell a minority interest in part of its commercial renewable energy portfolio owned and operated by its affiliate, Duke Energy Renewables, to the John Hancock Infrastructure Fund and John Hancock Life Insurance Company. Duke in an April 24 release said the interest is valued at about $ 1.25 billion.

Duke said the deal includes 49% of 37 operating wind, solar, and battery storage assets, and 33% of 11 operating solar assets across the U.S. John Hancock’s interest will represent about 1.2 GW of power generation capacity after the deal is closed. John Hancock will also have the right to acquire a minority interest in certain additional wind and solar projects in the future, providing a potential source of future growth capital to Duke Energy.

“We look forward to working alongside John Hancock as we continue providing clean and affordable energy to our customers across the country,” said Rob Caldwell, president of Duke Energy Renewables.  …

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