Duke Energy to buy North Carolina generating assets for $1.2B

|About: Duke Energy Corporation (DUK)|By:, SA News Editor

Duke Energy (DUK +0.5%) agrees to acquire generating assets from North Carolina's Eastern Municipal Power Agency for $1.2B.

The power agency, which serves ~270K customers, owns partial interests in several DUK plants throughout the state, representing ~700 MW of generating capacity.

DUK also says it will enter into a 30-year wholesale power contract to continue meeting the needs of the agency's customers served by the plants.