Duke Energy decides to put commercial renewables business up for sale; deal could exceed $5B

Duke Energy Corp. (NYSE: DUK) has completed a strategic review of its commercial renewables business and hired an investment bank and legal advisers to help negotiate its sale, which is likely to exceed $5 billion.

“We’re encouraged by the market response to our commercial renewables business and will proceed with a sale targeting a second-quarter 2023 closing,” Duke CEO Lynn Good said in a prepared statement.

CFO Brian Savoy said Duke completed the review in late April. He said that the…