This Memorandum sets forth the mutual desire of the Parties to form a cooperative relationship and engage in a dialogue regarding the potential development of a utility scale solar and energy storage project on portions of land owned by the City of Orlando in Seminole County, Florida.

This project will consist of Duke Energy and the City of Orlando working cooperatively to identify suitable sites for solar and energy storage development on the Orlando-owned Iron Bridge Water Reclamation Facility site.  The Iron Bridge Wastewater Treatment Facility is in East Orange County, in the Duke Energy service territory. Once suitable sites are identified, City of Orlando and Duke will work cooperatively to develop mutually acceptable lease terms for the land that will allow for Duke to finance, develop, build, own and operate utility-scale solar power plant and energy storage facility. The project will also provide benefits to the City of Orlando in reducing operational costs and improving the resiliency of our critical infrastructure during future power outages.

The Parties agree that Duke Energy may file any necessary interconnection requests to support the development of these solar project(s) while lease negotiations are ongoing.

This Memorandum will not commit the City of Orlando to any financial investment.