Duke Energy Corp. will take a $1.3 billion impairment loss on the sale of its commercial renewable business, which it now expects to close later this year, according to its earnings release Thursday.
(Bloomberg) — Duke Energy Corp. will take a $1.3 billion impairment loss on the sale of its commercial renewable business, which it now expects to close later this year, according to its earnings release Thursday.
The utility previously said it would sell the unit, which would be one of the biggest US clean-power deals ever. The company said last year that the unit had a book value of about $3 billion.
Duke’s charge is the second writedown of a renewable unit this week. Dominion Energy Inc. said Wednesday it would take a $1.5 billion impairment on the value of its unregulated solar generation facilities.
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