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Researched by Industrial Info Resources (Sugar Land, Texas)--Like other power companies, Duke Energy Corporation (NYSE:DUK) is aiming for net-zero carbon emissions by 2050. And to do this, Duke will proceed with what it calls "the largest planned coal retirement in the industry," with the aim for coal generation to be less than 5% of its fuel mix by 2030 and a complete exit from the fossil fuel by 2035.
Duke plans to achieve this on a state-by-state basis within its service territory. In the Carolinas, for example, Duke is aiming for 70% carbon reduction by 2030, compared with 2005 levels. In Florida, boosted by the state's Solar Base Rate Adjustment (SoBRA) plan, Duke has installed 600 megawatts (MW) of solar power, with another 150 MW remaining to be completed.
Duke is achieving its Florida aims through a series of solar plants, each with a generation capacity of slightly less than 75 MW. Examples include the 74.5-MW Fort Green solar facility in Wauchula, Florida, about 65 miles southeast of Tampa. The facility will use an estimated 265,000 First Solar (NASDAQ:FSLR) (Tempe, Arizona) thin-film modules on a fixed-tilt racking system. Construction kicked off last summer and is expected to wrap up in the coming months. Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project Database can click here for the detailed report.
In Florida, Duke is underway with the dismantlement/demolition of its 964-MW Crystal River South coal-fired plant, which is expected to be completed by the end of this year. Subscribers can click here for the report.
Solar projects outside of Florida include the 250-MW Pisgah Ridge solar farm in Richland, Texas, about 65 miles southeast of Dallas. The facility will use 650,000 solar modules to achieve a nameplate generation capacity of 250 MW. The project is expected to be completed later this year. Subscribers can click here for the project report.
The company's underway wind projects include a grassroot windfarm in Ledyard, Iowa, that will use 56 4.2-MW turbines to generate about 235 MW. Construction kicked off last summer and is expected to be completed toward the end of this year. Subscribers can click here for the project report.
Duke has retired 56 coal-fired units, with generating capacity of 7.5 gigawatts, since 2010. In Thursday's conference call with analysts, Duke Energy Chief Executive Officer Lynn Good said, "Embedded in Duke Energy is a top-10 renewable energy company. We now own, operate or purchase more than 10,000 MW of solar and wind energy. We plan to reach 16,000 MW by 2025 and 24,000 MW by 2030."
In addition to renewables, a key element of Duke's energy strategy is the renewal of nuclear operating licenses. Last year, Duke filed with the U.S. Nuclear Regulatory Commission for the subsequent license renewal of its Oconee nuclear facility in South Carolina. The current licenses for all three of the 2,500-MW facility's reactors expire in the early 2030s, and the subsequent license renewals would extend the operating lives of units 1 and 2 to 2053 and Unit 3 to 2054. Subscribers to Industrial Info's Power Plant Database can click here for the plant profile. Duke intends to renew the operating licenses of all 11 nuclear reactors it operates for an additional 20 years.
Steve Young, Duke's chief financial officer, said, "As coal is phased out from our generation profile, it will be replaced with zero-carbon resources and prudent investments in cleaner natural gas." An example of this strategy in action is the conversion of the 2,000-MW Marshall Power Plant in Terrell, North Carolina, from coal to natural gas. Subscribers can click here for the project report.
Duke also is keeping an eye on power generation from hydrogen. Young said, "We've formed strategic partnerships to study the long-term potential of hydrogen co-firing and storage, including a pilot program we will launch this year. We believe our natural gas units are well-positioned to take advantage of hydrogen technology as it evolves."
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.
Duke plans to achieve this on a state-by-state basis within its service territory. In the Carolinas, for example, Duke is aiming for 70% carbon reduction by 2030, compared with 2005 levels. In Florida, boosted by the state's Solar Base Rate Adjustment (SoBRA) plan, Duke has installed 600 megawatts (MW) of solar power, with another 150 MW remaining to be completed.
Duke is achieving its Florida aims through a series of solar plants, each with a generation capacity of slightly less than 75 MW. Examples include the 74.5-MW Fort Green solar facility in Wauchula, Florida, about 65 miles southeast of Tampa. The facility will use an estimated 265,000 First Solar (NASDAQ:FSLR) (Tempe, Arizona) thin-film modules on a fixed-tilt racking system. Construction kicked off last summer and is expected to wrap up in the coming months. Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project Database can click here for the detailed report.
In Florida, Duke is underway with the dismantlement/demolition of its 964-MW Crystal River South coal-fired plant, which is expected to be completed by the end of this year. Subscribers can click here for the report.
Solar projects outside of Florida include the 250-MW Pisgah Ridge solar farm in Richland, Texas, about 65 miles southeast of Dallas. The facility will use 650,000 solar modules to achieve a nameplate generation capacity of 250 MW. The project is expected to be completed later this year. Subscribers can click here for the project report.
The company's underway wind projects include a grassroot windfarm in Ledyard, Iowa, that will use 56 4.2-MW turbines to generate about 235 MW. Construction kicked off last summer and is expected to be completed toward the end of this year. Subscribers can click here for the project report.
Duke has retired 56 coal-fired units, with generating capacity of 7.5 gigawatts, since 2010. In Thursday's conference call with analysts, Duke Energy Chief Executive Officer Lynn Good said, "Embedded in Duke Energy is a top-10 renewable energy company. We now own, operate or purchase more than 10,000 MW of solar and wind energy. We plan to reach 16,000 MW by 2025 and 24,000 MW by 2030."
In addition to renewables, a key element of Duke's energy strategy is the renewal of nuclear operating licenses. Last year, Duke filed with the U.S. Nuclear Regulatory Commission for the subsequent license renewal of its Oconee nuclear facility in South Carolina. The current licenses for all three of the 2,500-MW facility's reactors expire in the early 2030s, and the subsequent license renewals would extend the operating lives of units 1 and 2 to 2053 and Unit 3 to 2054. Subscribers to Industrial Info's Power Plant Database can click here for the plant profile. Duke intends to renew the operating licenses of all 11 nuclear reactors it operates for an additional 20 years.
Steve Young, Duke's chief financial officer, said, "As coal is phased out from our generation profile, it will be replaced with zero-carbon resources and prudent investments in cleaner natural gas." An example of this strategy in action is the conversion of the 2,000-MW Marshall Power Plant in Terrell, North Carolina, from coal to natural gas. Subscribers can click here for the project report.
Duke also is keeping an eye on power generation from hydrogen. Young said, "We've formed strategic partnerships to study the long-term potential of hydrogen co-firing and storage, including a pilot program we will launch this year. We believe our natural gas units are well-positioned to take advantage of hydrogen technology as it evolves."
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.
