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Researched by Industrial Info Resources (Sugar Land, Texas)--Duke Energy Corporation (NYSE:DUK) (Charlotte, North Carolina) is making ambitious moves toward cleaning up its carbon footprint with several natural gas and solar power projects. Industrial Info is tracking $11.5 billion in active Duke projects.
Among the company's initiatives is the Western Carolinas Modernization Project, which includes the construction of a 560-megawatt (MW) natural gas-fired, combined cycle unit at the Ashville Power Station in North Carolina. In the company's recent earnings conference call, Duke Energy Chief Executive Officer Lynn Good said, "Our $1.1 billion Western Carolinas Modernization Project in Asheville remains on track for a late 2019 in-service date. The project combines various aspects of our cleaner-energy strategy, retiring an older coal plant, building new natural gas units, installing renewables and upgrading transmission and distribution infrastructure." Construction at the Asheville plant began in late 2017, with McDermott International Incorporated (NYSE:MDR) (Houston, Texas) providing engineering, procurement and construction (EPC). For more information, see Industrial Info's project report.
Among Duke's other natural gas-fired projects in North Carolina is the addition of a combined-cycle unit at the Lincoln Power Station near Stanley. The project will add 400-MW of generating capacity. Siemens Energy Incorporated (Orlando, Florida) is providing design-build services on the $320 million project, which is using Siemens equipment. Construction began early last year and is expected to be completed by the end of this year. For more information, see Industrial Info's project report.
Duke also is in the planning stage to convert a couple of coal-fired power stations to run on natural gas. Among these projects is the conversion of two coal-fired units at the 2,160-MW Belews Creek Power Station to run 50% on natural gas and 50% on coal to reduce emissions. Construction could kick off next year. For more information, see Industrial Info's project report.
Duke's natural gas-fired ambitions extend beyond North Carolina. Late last year, the company wrapped up construction of a 1,640-MW combined-cycle power station in Citrus County, Florida. Construction on the project began in late 2015, with Fluor Corporation (NYSE:FLR) (Irving, Texas) providing turnkey services. The project had a total investment value of $1.5 billion. For more information, see Industrial Info's project report.
Good spoke about Duke's progress with renewable energy projects in the first quarter: "Renewables development is also off to a tremendous start in 2019. In Florida, we announced three new solar projects totaling 195 MW as part of our commitment to add 700 MW of solar." Duke's plans include construction of two 75-MW solar farms and a 45-MW farm. The projects have a combined total investment value (TIV) of $295 million. Construction is expected to begin this year, with M.A. Mortenson Company (Minneapolis, Minnesota) providing EPC. For more information, see Industrial Info's project reports on the Trenton Solar Farm in Gilchrest County, the Lake Placid Solar Farm in Highlands County and the DeBary Solar Farm in Volusia County.
While Duke's recent announcements about renewables involve solar power, the company also is developing some hydropower projects in South Carolina. Among the largest of these is the upgrade of four units at the 1,064-MW Bad Creek pumped-storage hydropower facility in Salem. The project involves replacing the turbine runners and performing a generator rewind to increase generation by 200 MW and extend the plant's service life. Construction is expected to begin soon and be completed in fourth-quarter 2022. The project has an estimated TIV of $200 million. For more information, see Industrial Info's project report.
Duke reported first-quarter 2019 net income of $900 million, compared with $620 million in first-quarter 2018.
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.
Among the company's initiatives is the Western Carolinas Modernization Project, which includes the construction of a 560-megawatt (MW) natural gas-fired, combined cycle unit at the Ashville Power Station in North Carolina. In the company's recent earnings conference call, Duke Energy Chief Executive Officer Lynn Good said, "Our $1.1 billion Western Carolinas Modernization Project in Asheville remains on track for a late 2019 in-service date. The project combines various aspects of our cleaner-energy strategy, retiring an older coal plant, building new natural gas units, installing renewables and upgrading transmission and distribution infrastructure." Construction at the Asheville plant began in late 2017, with McDermott International Incorporated (NYSE:MDR) (Houston, Texas) providing engineering, procurement and construction (EPC). For more information, see Industrial Info's project report.
Among Duke's other natural gas-fired projects in North Carolina is the addition of a combined-cycle unit at the Lincoln Power Station near Stanley. The project will add 400-MW of generating capacity. Siemens Energy Incorporated (Orlando, Florida) is providing design-build services on the $320 million project, which is using Siemens equipment. Construction began early last year and is expected to be completed by the end of this year. For more information, see Industrial Info's project report.
Duke also is in the planning stage to convert a couple of coal-fired power stations to run on natural gas. Among these projects is the conversion of two coal-fired units at the 2,160-MW Belews Creek Power Station to run 50% on natural gas and 50% on coal to reduce emissions. Construction could kick off next year. For more information, see Industrial Info's project report.
Duke's natural gas-fired ambitions extend beyond North Carolina. Late last year, the company wrapped up construction of a 1,640-MW combined-cycle power station in Citrus County, Florida. Construction on the project began in late 2015, with Fluor Corporation (NYSE:FLR) (Irving, Texas) providing turnkey services. The project had a total investment value of $1.5 billion. For more information, see Industrial Info's project report.
Good spoke about Duke's progress with renewable energy projects in the first quarter: "Renewables development is also off to a tremendous start in 2019. In Florida, we announced three new solar projects totaling 195 MW as part of our commitment to add 700 MW of solar." Duke's plans include construction of two 75-MW solar farms and a 45-MW farm. The projects have a combined total investment value (TIV) of $295 million. Construction is expected to begin this year, with M.A. Mortenson Company (Minneapolis, Minnesota) providing EPC. For more information, see Industrial Info's project reports on the Trenton Solar Farm in Gilchrest County, the Lake Placid Solar Farm in Highlands County and the DeBary Solar Farm in Volusia County.
While Duke's recent announcements about renewables involve solar power, the company also is developing some hydropower projects in South Carolina. Among the largest of these is the upgrade of four units at the 1,064-MW Bad Creek pumped-storage hydropower facility in Salem. The project involves replacing the turbine runners and performing a generator rewind to increase generation by 200 MW and extend the plant's service life. Construction is expected to begin soon and be completed in fourth-quarter 2022. The project has an estimated TIV of $200 million. For more information, see Industrial Info's project report.
Duke reported first-quarter 2019 net income of $900 million, compared with $620 million in first-quarter 2018.
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.
