CHARLOTTE, N.C., Sept. 6, 2019 /PRNewswire/ -- Duke Energy
(NYSE: DUK) today completed its previously announced sale of a
minority interest in a portion of its commercial renewable energy
portfolio owned and operated by its affiliate, Duke Energy
Renewables, to the John Hancock Infrastructure Fund ("JHIF"), part
of Manulife Investment Management, and John Hancock Life Insurance
Company (U.S.A) (collectively,
"John Hancock").
"We're excited to begin partnering with John Hancock to continue providing clean and
affordable energy to our customers across the country," said
Rob Caldwell, president of Duke
Energy Renewables. "So far this year, we've announced more than
1,100 megawatts of additional renewable energy projects that will
come online by the end of 2020, including our largest ever wind and
solar projects. We see a bright future for renewables investment
and this collaboration will help us deliver long-term value to
customers and investors."
"We believe this investment with Duke Energy represents a rare
opportunity to acquire a diversified, large scale renewable energy
portfolio alongside a high-quality partner and operator," said
Recep Kendircioglu, Portfolio Manager of JHIF and Head of
John Hancock's Infrastructure
Investments. "We share a common view on the importance of renewable
energy in the U.S. and we look forward to a successful partnership
with Duke Energy."
Morgan Stanley served as exclusive financial advisor and Hunton
Andrews Kurth LLP served as legal advisor to Duke Energy.
John Hancock was advised by Mayer
Brown LLP and Day Pitney LLP.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in
Charlotte, N.C., is one of the
largest energy holding companies in the U.S. It employs 30,000
people and has an electric generating capacity of 51,000 megawatts
through its regulated utilities and 3,000 megawatts through its
nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience,
modernizing the energy grid, generating cleaner energy and
expanding natural gas infrastructure to create a smarter energy
future for the people and communities it serves. The Electric
Utilities and Infrastructure unit's regulated utilities serve
approximately 7.7 million retail electric customers in six states –
North Carolina, South Carolina, Florida, Indiana, Ohio
and Kentucky. The Gas Utilities
and Infrastructure unit distributes natural gas to more than 1.6
million customers in five states – North
Carolina, South Carolina,
Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit
operates wind and solar generation facilities across the U.S., as
well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired
Companies" list and Forbes' 2019 "America's Best Employers" list.
More information about the company is available at duke-energy.com.
The Duke Energy News Center contains news releases, fact sheets,
photos, videos and other materials. Duke Energy's illumination
features stories about people, innovations, community topics and
environmental issues. Follow Duke Energy on Twitter, LinkedIn,
Instagram and Facebook.
Duke Energy Renewables
Duke Energy Renewables, a nonregulated unit of Duke Energy,
operates wind and solar generation facilities across the U.S., with
a total electric capacity of 3,000 megawatts. The power is sold to
electric utilities, electric cooperatives, municipalities, and
commercial and industrial customers. The unit also operates energy
storage and microgrid projects. Visit Duke Energy
Renewables for more information.
About Manulife Investment Management
Manulife Investment Management is the global wealth and asset
management segment of Manulife Financial Corporation. We draw on
more than 150 years of financial stewardship to partner with
clients across our institutional, retail, and retirement businesses
globally. Our specialist approach to money management includes the
highly differentiated strategies of our fixed-income, specialized
equity, multi-asset solutions, and private markets teams—along with
access to specialized, unaffiliated asset managers from around the
world through our multimanager model. Our personalized, data-driven
approach to retirement is focused on delivering financial wellness
in retirement plans of all sizes to help plan participants and
members retire with dignity.
Headquartered in Toronto, we
operate as Manulife Investment Management throughout the world,
with the exception of the United
States, where the retail and retirement businesses operate
as John Hancock Investment Management and John Hancock, respectively; and in Asia and Canada, where the retirement business operates
as Manulife.
About John Hancock and
Manulife
John Hancock is a division of
Manulife Financial Corporation, a leading international financial
services group that helps people make their decisions easier and
lives better. We operate primarily as John
Hancock in the United
States, and Manulife elsewhere. We provide financial advice,
insurance and wealth and asset management solutions for
individuals, groups and institutions. Manulife Financial
Corporation trades as MFC on the TSX, NYSE, and PSE, and under 945
on the SEHK. Manulife can be found at manulife.com.
One of the largest life insurers in the United States, John Hancock supports more than 10 million
Americans with a broad range of financial products,
including life
insurance, annuities, investments, 401(k)
plans, and college savings plans. Additional
information about John Hancock may
be found at johnhancock.com.
Manulife and John Hancock offer
comprehensive wealth and asset management solutions for
institutional and retail investors globally across a broad range of
public and private asset classes, as well as asset allocation
solutions. Manulife's Private Markets platform offers long term
solutions for its clients by leveraging our expertise across
private equity and private credit, real estate equity and debt,
infrastructure equity, timberland and farmland.
Cautionary Language Concerning Forward-Looking
Statements
This document includes forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934. Forward-looking
statements are based on management's beliefs and assumptions. These
forward-looking statements are identified by terms and phrases such
as "anticipate," "believe," "intend," "estimate," "expect,"
"continue," "should," "could," "may," "plan," "project," "predict,"
"will," "potential," "forecast," "target," "outlook," "guidance,"
and similar expressions. Various factors may cause actual results
to be materially different than the suggested outcomes within
forward-looking statements; accordingly, there is no assurance that
such results will be realized. These risks and uncertainties
are identified and discussed in Duke Energy's Form 10-K for the
year ended December 31, 2018, and
subsequent quarterly reports filed with the Securities and Exchange
Commission ("SEC") and available at the SEC's website at
www.sec.gov. In light of these risks, uncertainties and
assumptions, the events described in the forward-looking statements
might not occur or might occur to a different extent or at a
different time than Duke Energy has described. Duke Energy
expressly disclaims an obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
Analyst Contact: Mike
Callahan
Office: 704.382.0459
Media Contact: Neil Nissan
24-Hour: 800.559.3853
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SOURCE Duke Energy