Duke Narrows Focus to Regulated Growth, Ups Five-Year Capex
Attachment: Duke 4Q24
February 9, 2024--Researched by Industrial Info Resources (Sugar Land, Texas)--Duke Energy Corporation (NYSE:DUK) (Charlotte, North Carolina) is upbeat about its "simplified, 100% regulated growth plan," which the company detailed as it announced its results for 2023. Duke is leaving its unregulated businesses behind and focusing on more immediate needs, including improvements to its transmission and distribution system and investments in cleaner gas-fired technology.
Industrial Info is tracking nearly $19 billion worth of active and planned projects from Duke, including more than $4.75 billion worth nearing or under construction. Last year, Duke sold its unregulated, utility-scale commercial renewables business to Brookfield Renewable Partners LP (NYSE:BEP) (Toronto, Ontario) for $2.8 billion. The deal allows Duke to focus on its regulated businesses, with a renewed emphasis on improving grid stability. Duke also plans to deploy 30 gigawatts (GW) of regulated renewable energy by 2035.
