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Released April 02, 2025 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--Duke Energy Corporation (NYSE:DUK) (Charlotte, North Carolina) received approval from the U.S. Nuclear Regulatory Commission (NRC) (Rockville, Maryland) to operate its roughly 2,500-megawatt (MW) Oconee nuclear power plant in South Carolina for another 20 years.
Duke's largest nuclear plant, Oconee, located 30 miles west of Greenville, features three pressurized water reactor units: units 1 and 2 entered commercial operation in 1973 and Unit 3 in 1974. The extension--which is the second license renewal for the plant--means 1 and 2 now can operate through 2053 and Unit 3 through 2054. The license was set to expire in 2034.
Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Plant Database can click here to read a profile on the Oconee plant.
In a press release announcing the approval, Duke Energy said Oconee is the first of the company's nuclear plants to have its license extended, and the company is "working toward extending the life of all of its existing nuclear units," with plans to submit a license renewal application for its Robinson Nuclear Plant in Hartsville, South Carolina, in April.
Duke operates 11 nuclear units at six sites in North Carolina and South Carolina. Together, these facilities can generate about 10,700 MW. Subscribers can click here for a full list of plants.
"Approval to extend Oconee Nuclear Station's licenses is a significant milestone for Duke Energy and provides significant learnings to use in completing license applications for our other plants," said Chief Nuclear Officer Kelvin Henderson. "As we address growth, modernize the fleet and invest in cleaner technologies, subsequent license renewal helps ensure nuclear energy continues to be a vital part of Duke Energy's generation portfolio."
Earlier this year the company raised its five-year capital expenditure (capex) plan to $83 billion, a 12% increase from its prior five-year plan. "The majority of the increase is driven by generation investments reflected in our plan," Chief Financial Officer Brian Savoy said in the company's fourth-quarter 2024 earnings conference call in February. "In addition, grid investments represent around 45% of our capital plan as we continue to improve the reliability and resiliency of our system."
Industrial Info is tracking more than $16 billion worth of active and proposed projects from Duke, including the $100 million Red Bud Solar Plant under construction in Castalia, North Carolina. The plant is designed to generate 80 MW from 329,440 photovoltaic solar panels provided by SMA Solar Technology (Niestetal, Germany), and construction is set to wrap up in the third quarter. Subscribers can learn more from a detailed project report.
Subscribers can click here for a full list of active and planned projects from Duke Energy.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
Duke's largest nuclear plant, Oconee, located 30 miles west of Greenville, features three pressurized water reactor units: units 1 and 2 entered commercial operation in 1973 and Unit 3 in 1974. The extension--which is the second license renewal for the plant--means 1 and 2 now can operate through 2053 and Unit 3 through 2054. The license was set to expire in 2034.
Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Plant Database can click here to read a profile on the Oconee plant.
In a press release announcing the approval, Duke Energy said Oconee is the first of the company's nuclear plants to have its license extended, and the company is "working toward extending the life of all of its existing nuclear units," with plans to submit a license renewal application for its Robinson Nuclear Plant in Hartsville, South Carolina, in April.
Duke operates 11 nuclear units at six sites in North Carolina and South Carolina. Together, these facilities can generate about 10,700 MW. Subscribers can click here for a full list of plants.
"Approval to extend Oconee Nuclear Station's licenses is a significant milestone for Duke Energy and provides significant learnings to use in completing license applications for our other plants," said Chief Nuclear Officer Kelvin Henderson. "As we address growth, modernize the fleet and invest in cleaner technologies, subsequent license renewal helps ensure nuclear energy continues to be a vital part of Duke Energy's generation portfolio."
Earlier this year the company raised its five-year capital expenditure (capex) plan to $83 billion, a 12% increase from its prior five-year plan. "The majority of the increase is driven by generation investments reflected in our plan," Chief Financial Officer Brian Savoy said in the company's fourth-quarter 2024 earnings conference call in February. "In addition, grid investments represent around 45% of our capital plan as we continue to improve the reliability and resiliency of our system."
Industrial Info is tracking more than $16 billion worth of active and proposed projects from Duke, including the $100 million Red Bud Solar Plant under construction in Castalia, North Carolina. The plant is designed to generate 80 MW from 329,440 photovoltaic solar panels provided by SMA Solar Technology (Niestetal, Germany), and construction is set to wrap up in the third quarter. Subscribers can learn more from a detailed project report.
Subscribers can click here for a full list of active and planned projects from Duke Energy.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
