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Released February 07, 2020 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--DTE Energy Company (NYSE:DTE) (Detroit, Michigan) ended 2019 on a high note as earnings improved and the company mapped out its investments for the next five years. As it faces public and political pressure to add more renewables to its portfolio, the Michigan-centered energy provider continues to reduce its coal-fired holdings and is looking toward a long-term diversification of its energy resources. Industrial Info is tracking more than $3 billion worth of active projects from DTE, nearly $1 billion of which is under construction.
Click on the image at right for a graph detailing DTE's active projects, by fuel type.
Since late 2018, DTE has been at work on the estimated $989 million Blue Water Energy Center, a natural gas-fired, combined-cycle (NGCC) power station that will replace output lost from the coal-fired St. Clair Power Station in East China, Michigan. The Blue River plant will feature a pair of combustion turbines and a steam turbine from General Electric (NYSE:GE), with a total output of 1,100 megawatts (MW). It is expected to finish construction in early 2022.
The St. Clair plant's closure date was moved up last year from 2023 to 2022, after which DTE will begin the lengthy process of dismantlement and demolition and, later, a pair of ash-pond closures. For more information, see Industrial Info's project reports on the Blue Energy plant and St. Clair's demolition and ash ponds.
DTE announced in March 2019 that it plans to reduce its carbon emissions 80% by 2040, which is a 10-year acceleration from what it had proposed in early 2017, according to the Port Huron Times Herald. Its efforts include the $640 million Isabella Windfarm in Weidman, which is under construction and set to wrap up by the end of the year, and the $190 million Branch County Windfarm in Matteson Township, which is set to begin construction in the third quarter. The Isabella Windfarm is expected to generate 386 MW from 136 turbines, while the Branch County Windfarm would generate 119 MW from 70 turbines.
The company also is considering the proposed, estimated $247.5 million Lapeer County Windfarm in North Branch, which would generate 150 MW from 50 turbines. If approved, the project would not begin construction until first-quarter 2022 at the earliest. For more information, see Industrial Info's reports on the Isabella, Branch County and Lapeer County projects.
In addition to the windfarms, DTE is seeking permits for an estimated $39.6 million solar project at a landfill in Ann Arbor. The facility, which would not begin construction until fourth-quarter 2021 at the earliest, would generate 24 MW from photovoltaic panels. For more information, see Industrial Info's project report.
"DTE Electric is progressing on its voluntary renewable program very nicely," said Jerry Norcia, the chief executive officer of DTE, in a quarterly earnings-related conference call. "In 2019, over 400 MW were committed by commercial customers, including Ford, General Motors, the University of Michigan and the Detroit Zoo. Additionally, about 10,000 residential customers have committed to voluntary renewable power."
Capital expenditures for 2020 are expected to be between $4.35 billion and $4.55 billion. DTE executives reaffirmed the company's commitment to $19 billion of capital expenditures over the next five years. "We will invest 80% of our capital in our [electric and gas] utilities over the next five years, which will continue to provide our customers with cleaner and more reliable energy, and deliver high-quality operating earnings with increased certainty," Norcia said in the call.
Net income for full-year 2019 was reported to be $1.17 billion, a 4.4% increase from 2018.
In addition to the abovementioned capital-spending projects, Industrial Info is tracking more than $78 million in maintenance-related projects that are set to kick off through early 2022. Click here for a list.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com/.
Click on the image at right for a graph detailing DTE's active projects, by fuel type.Since late 2018, DTE has been at work on the estimated $989 million Blue Water Energy Center, a natural gas-fired, combined-cycle (NGCC) power station that will replace output lost from the coal-fired St. Clair Power Station in East China, Michigan. The Blue River plant will feature a pair of combustion turbines and a steam turbine from General Electric (NYSE:GE), with a total output of 1,100 megawatts (MW). It is expected to finish construction in early 2022.
The St. Clair plant's closure date was moved up last year from 2023 to 2022, after which DTE will begin the lengthy process of dismantlement and demolition and, later, a pair of ash-pond closures. For more information, see Industrial Info's project reports on the Blue Energy plant and St. Clair's demolition and ash ponds.
DTE announced in March 2019 that it plans to reduce its carbon emissions 80% by 2040, which is a 10-year acceleration from what it had proposed in early 2017, according to the Port Huron Times Herald. Its efforts include the $640 million Isabella Windfarm in Weidman, which is under construction and set to wrap up by the end of the year, and the $190 million Branch County Windfarm in Matteson Township, which is set to begin construction in the third quarter. The Isabella Windfarm is expected to generate 386 MW from 136 turbines, while the Branch County Windfarm would generate 119 MW from 70 turbines.
The company also is considering the proposed, estimated $247.5 million Lapeer County Windfarm in North Branch, which would generate 150 MW from 50 turbines. If approved, the project would not begin construction until first-quarter 2022 at the earliest. For more information, see Industrial Info's reports on the Isabella, Branch County and Lapeer County projects.
In addition to the windfarms, DTE is seeking permits for an estimated $39.6 million solar project at a landfill in Ann Arbor. The facility, which would not begin construction until fourth-quarter 2021 at the earliest, would generate 24 MW from photovoltaic panels. For more information, see Industrial Info's project report.
"DTE Electric is progressing on its voluntary renewable program very nicely," said Jerry Norcia, the chief executive officer of DTE, in a quarterly earnings-related conference call. "In 2019, over 400 MW were committed by commercial customers, including Ford, General Motors, the University of Michigan and the Detroit Zoo. Additionally, about 10,000 residential customers have committed to voluntary renewable power."
Capital expenditures for 2020 are expected to be between $4.35 billion and $4.55 billion. DTE executives reaffirmed the company's commitment to $19 billion of capital expenditures over the next five years. "We will invest 80% of our capital in our [electric and gas] utilities over the next five years, which will continue to provide our customers with cleaner and more reliable energy, and deliver high-quality operating earnings with increased certainty," Norcia said in the call.
Net income for full-year 2019 was reported to be $1.17 billion, a 4.4% increase from 2018.
In addition to the abovementioned capital-spending projects, Industrial Info is tracking more than $78 million in maintenance-related projects that are set to kick off through early 2022. Click here for a list.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com/.
