Duke Energy initiates process to exit Midwest commercial generation business Duke Energy has initiated a strategic process to exit its Midwest commercial generation business, which includes ownership interests in 13 power plants. The Midwest generation business includes 13 power plants with a total capacity of approximately 6,600 megawatts. These plants are owned or partially owned by Duke Energy Ohio and reported in the company's Commercial Businesses unit. Redeployment of any Midwest generation sale proceeds is expected to be accretive. As a result of this announcement, the company will take an estimated pre-tax impairment charge of $1B to $2B in the first quarter of 2014. This impairment will be treated as a special item and excluded from Duke Energy's adjusted diluted earnings per share results.
Duke Energy solar project in Rutherford to provide energy to Google data center Google (GOOG) will benefit from Duke Energy (DUK) Carolinas' Green Source Rider program - meeting a portion of the power demand from the company's data center in Lenoir with solar energy. A 61-megawatt solar project will be constructed in Rutherford County in Duke Energy Carolinas' service territory. Under a power purchase agreement with the Rutherford Farms solar project, Duke Energy will secure power to meet new energy demand from Google's expanded data center.
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