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RAI Energy acquires stake in 70-MW Fla. solar project

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RAI Energy acquires stake in 70-MW Fla. solar project

RAI Energy International Inc. has acquired an ownership interest in a 70-MW solar project in Hamilton County, Fla. from Hamilton Energy Resource Opportunities LLC.

The solar facility is currently under development and is expected to come online in 2019. RAI Energy now serves as co-developer for the project, according to an Oct. 10 release.

Hamilton Energy Resource Opportunities recently requested Duke Energy Florida LLC carry out a study to ensure the solar farm achieves the maximum technological efficiencies available.

"RAI is encouraged to see more favorable market conditions in the Florida solar energy sector as evidenced by Duke Energy's and Tampa Electric Co.'s recent announcements to add 700 MW and 600 MW, respectively, of solar energy," RAI Energy President and CEO Mohammed Alrai said.

Duke Energy Florida is a subsidiary of Duke Energy Corp. and Tampa Electric is a subsidiary of Emera Inc.