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Duke Energy Takes Full Ownership of REC Solar, Seeks to Be a ‘One-Stop Entity’ for C&I Renewables

Duke Energy announced Wednesday that it has taken full control of California-based commercial solar developer REC Solar. The acquisition comes after Duke acquired a majority stake in the company in 2015. Duke spokesperson Tammie McGee said it was assumed an acquisition would take place eventually, but that Duke accelerated the timeline in response to market dynamics. "As we see more and more companies, and especially corporates, becoming interested in renewable energy, it became clear that putting our strengths together would help meet that need," McGee said, in a phone interview.
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