Duke Energy will join with a Chinese company to develop commercial solar power projects in the United States.
Charlotte-based Duke signed the deal Friday with ENN Group, which operates more than 100 subsidiaries in 80 cities in China and employs more than 24,000 people.
Under the agreement, the two will concentrate on large utility-scale farms and other commercial solar projects.
"China is investing heavily in clean energy, and we can make greater progress in the U.S. by joining forces and working together," Duke Energy CEO Jim Rogers said in a statement.
The agreement will expand Duke's investments in renewable energy, including wind and biopower.
Duke owns and operates more than 630 megawatts of wind power projects in the United States, though none in North or South Carolina. It plans to add 350 megawatts by the end of next year.
It also is working on developing power plants fueled by wood wastes through a business it formed last year with Areva, a French company.
Get the biggest news in your email or cellphone as it's happening. Sign up for breaking news alerts.
President Barack Obama on Wednesday proposed a lower corporate tax rate and an end to dozens of loopholes he said helps companies move jobs and profits overseas. "It's not right and it needs to change," he said. 
It came and went in a flash, a number on a board for seconds at a time, but its symbolic power couldn't be dismissed. 
The housing market is flashing signs of health ahead of the spring-buying season. 
Business software giant SAS didn't have to look far to expand its portfolio of marketing products. 
The holidays turned out to be a lot brighter at the high end, as four major retailers reported results Tuesday. Keep up with the latest business stories with our free e-mail newsletter, delivered straight to your inbox!
Subscribe to Business - it's free!
Subscribe to NC Business News - it's free!
Subscribe to Technology/Biotech - it's free!
