Charlotte's budding reputation as an energy hub is getting another boost.

The Electric Power Research Institute has purchased 108,000 square feet of office and lab space on 24 acres beside its research facilities at University Research Park. With this addition, EPRI's campus consists of 258,000 square feet of office and research space on 45 acres.

Palo Alto, Calif.-based EPRI, a nonprofit, employs about 200 people locally and expects that number to grow with the expansion, although it declined to provide specifics.

"We've been steadily growing" since opening in Charlotte in 1980, said Don Kintner, EPRI communications manager. "We expect to add a number of jobs over the next five years. ... We're excited to be part of the booming energy picture here."

He specifically cited Charlotte-based Duke Energy's pending merger with Progress Energy of Raleigh and Siemens Energy's expansion in southwest Charlotte.

The institute, which employs 800 people nationwide, conducts research relating to the generation, delivery and use of electricity.

EPRI bought part of the former Verbatim floppy-disk manufacturing plant from Paragon Media LLC. Purchase price was $5 million for the land and building. The Speed Channel occupies the adjacent building, also part of the former Verbatim plant. EPRI expects to complete its renovations by next fall.

"Given so much emphasis on the energy sector here, this move just makes a lot of sense," said Mary Hopper, executive director of University City Partners. That group runs a special tax district to promote the commercial core of University City.

Among the energy-related companies with a University City presence, Hopper said, are AndroHydro, Areva and Siemens.

EPRI initially plans to expand its lab space by 15,000 square feet and use the new property for some of its current research projects. In addition to labs, the newly acquired building will provide conference and meeting space for EPRI's collaborative research and development programs.

EPRI is funded primarily by utilities but emphasizes its role as an independent research institute. At its University Research Park campus, the institute conducts and manages R&D programs in electric transmission and nuclear- and fossil-power generation.

EPRI considered building a third office building at its research park campus before reaching a deal on the former Verbatim plant next door. The institute plans to carve a path through the woods to connect the two sites.

Triad Commercial Properties represented EPRI in the purchase negotiations; Walters Commercial Real Estate Services represented Paragon Media.