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Researched by Industrial Info Resources (Sugar Land, Texas)--In the past couple of years, several U.S. Power companies have made pledges to reduce their carbon emissions by a certain date. Among these is Duke Energy Corporation (NYSE:DUK) (Charlotte, North Carolina), which is aiming to reduce its carbon emissions by at least 50% by 2030 and achieve net-zero carbon emissions by 2050. Duke is moving toward this by the closure of coal-fired units and the construction of renewables facilities, among other actions.
In the company's recent third-quarter earnings conference call, Chief Executive Officer Lynn Good discussed the company's capital plans and its rollouts of renewable energy. Good said, "While we are already an industry leader in carbon-free generation, we have near-term ambitious plans to double our renewables portfolio by 2025, deploy energy storage across the Carolinas and Florida, and extend the licenses of our nuclear fleet all to the benefit of our customers and communities." Good said the company's five-year capital plan had been increased to $58 billion and that the company had outlined a "robust" capital plan of $65 billion to $75 billion for 2025 through 2029.
Among the states where Duke is taking a strong step in installing renewable energy is Florida, where the state's Solar Base Rate Adjustment (SoBRA) program encourages utilities to invest in solar power. Good said the state was scheduled to hear a proposal on Duke's clean-energy buildout on November 17. "If approved, we would launch a $1 billion shared solar program, which includes 750 megawatts (MW) of renewable resources. We've received strong support for our proposal from a broad range of stakeholders and look forward to the outcome of the hearing," said Good. "We're also making headway on the SoBRA investments, with nearly half of the 700 MW of utility-scale solar installed. This also represents $1 billion investment in the state."
Duke is achieving its Florida solar buildout through several facilities of about 75 MW, such as the Duette solar center in Manatee County, about 45 miles southeast of Tampa. The 74.9-MW facility will use approximately 227,000 First Solar (NASDAQ:FSLR) (Tempe, Arizona) Series 6 solar thin-film modules on a single-axis tracking system. A similar project, the 74.9-MW Santa Fe energy center near Fort White is located about 200 miles north, showing the range of Duke's projects. It began construction earlier this year and is in the process of wrapping up. For more information, see Industrial Info's project reports on the Duette and Santa Fe projects.
Outside of Florida, Duke is pursuing other forms of renewable energy. In Blackwell, Texas, about 130 miles east of Midland, Duke is underway with construction on the Maryneal Windfarm. The 182-MW windfarm will use 38 4.8-MW wind turbines. Construction began earlier this year and is expected to be completed by yearend. Wanzek Construction Incorporated (West Fargo, North Dakota) is providing engineering, procurement and construction services. For more information, see Industrial Info's project report.
In South Carolina, Duke is performing upgrades on turbines 1-4 at the Bad Creek pumped-storage storage hydropower station near Salem. The pump turbine runners are being replaced, and the generators rewound. The project will increase generation capacity by about 200 MW. The project began in 2019 and is expected to be completed in late 2022. For more information, see Industrial Info's project report.
In Florence, Indiana, Duke is wrapping up a turbine uprate project at the Markland Hydropower Station. Three Kaplan turbines will be modernized by runner replacement and stator and/or rotor rewinds to increase the generating capacity of each turbine by 3 MW. The project kicked off in 2017. For more information, see Industrial Info's project report.
Duke also is reducing its carbon footprint by replacing coal-fired power with natural gas, particularly in its home state of North Carolina, where it is converting coal-fired boilers to run on natural gas at the Marshall Power Station in Terrell. The project originally was planned to be completed this year, but delays have pushed the completion date into 2021. The facility has a generating capacity of 2,000 MW. For more information, see Industrial Info's project report.
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.
In the company's recent third-quarter earnings conference call, Chief Executive Officer Lynn Good discussed the company's capital plans and its rollouts of renewable energy. Good said, "While we are already an industry leader in carbon-free generation, we have near-term ambitious plans to double our renewables portfolio by 2025, deploy energy storage across the Carolinas and Florida, and extend the licenses of our nuclear fleet all to the benefit of our customers and communities." Good said the company's five-year capital plan had been increased to $58 billion and that the company had outlined a "robust" capital plan of $65 billion to $75 billion for 2025 through 2029.
Among the states where Duke is taking a strong step in installing renewable energy is Florida, where the state's Solar Base Rate Adjustment (SoBRA) program encourages utilities to invest in solar power. Good said the state was scheduled to hear a proposal on Duke's clean-energy buildout on November 17. "If approved, we would launch a $1 billion shared solar program, which includes 750 megawatts (MW) of renewable resources. We've received strong support for our proposal from a broad range of stakeholders and look forward to the outcome of the hearing," said Good. "We're also making headway on the SoBRA investments, with nearly half of the 700 MW of utility-scale solar installed. This also represents $1 billion investment in the state."
Duke is achieving its Florida solar buildout through several facilities of about 75 MW, such as the Duette solar center in Manatee County, about 45 miles southeast of Tampa. The 74.9-MW facility will use approximately 227,000 First Solar (NASDAQ:FSLR) (Tempe, Arizona) Series 6 solar thin-film modules on a single-axis tracking system. A similar project, the 74.9-MW Santa Fe energy center near Fort White is located about 200 miles north, showing the range of Duke's projects. It began construction earlier this year and is in the process of wrapping up. For more information, see Industrial Info's project reports on the Duette and Santa Fe projects.
Outside of Florida, Duke is pursuing other forms of renewable energy. In Blackwell, Texas, about 130 miles east of Midland, Duke is underway with construction on the Maryneal Windfarm. The 182-MW windfarm will use 38 4.8-MW wind turbines. Construction began earlier this year and is expected to be completed by yearend. Wanzek Construction Incorporated (West Fargo, North Dakota) is providing engineering, procurement and construction services. For more information, see Industrial Info's project report.
In South Carolina, Duke is performing upgrades on turbines 1-4 at the Bad Creek pumped-storage storage hydropower station near Salem. The pump turbine runners are being replaced, and the generators rewound. The project will increase generation capacity by about 200 MW. The project began in 2019 and is expected to be completed in late 2022. For more information, see Industrial Info's project report.
In Florence, Indiana, Duke is wrapping up a turbine uprate project at the Markland Hydropower Station. Three Kaplan turbines will be modernized by runner replacement and stator and/or rotor rewinds to increase the generating capacity of each turbine by 3 MW. The project kicked off in 2017. For more information, see Industrial Info's project report.
Duke also is reducing its carbon footprint by replacing coal-fired power with natural gas, particularly in its home state of North Carolina, where it is converting coal-fired boilers to run on natural gas at the Marshall Power Station in Terrell. The project originally was planned to be completed this year, but delays have pushed the completion date into 2021. The facility has a generating capacity of 2,000 MW. For more information, see Industrial Info's project report.
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.
