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Researched by Industrial Info Resources (Sugar Land, Texas)--Duke Energy Corporation (NYSE:DUK) (Charlotte, North Carolina) has been retiring coal and building out its natural gas-fired and solar power plant footprint. The company is progressing with such projects in the southeastern U.S., particularly in Florida and North Carolina.
In the company's recent fourth-quarter 2018 earnings conference call, Chief Executive Officer Lynn Good spoke about Duke's strategies. Good said, "We have outlined plans to reduce our carbon emissions by 40% by 2030. ... We've retired more than 6 gigawatts of coal generation since 2011, including two Crystal River units in Florida that were retired in December. Over the next six years, we plan to retire another 1,200 megawatts (MW) of coal generation and replace it with lower-carbon alternatives such as renewables and natural gas-fired facilities."
Among Duke's projects to meet this goal is the W.S. Lee and Citrus County combined cycle plants, which went into service last year. The W.S. Lee project in South Carolina included adding a 750-MW combined cycle unit. Construction on the project began in the first half of 2014, with Fluor Corporation (NYSE:FLR) (Irving, Texas) providing engineering, procurements and construction (EPC). The plant went into service early last year. For more information, see Industrial Info's project report.
Construction on the Citrus County, Florida, combined cycle plant began in 2016. The plant has a generating capacity of 1,640 MW, and the first 820-MW phase was placed in service in October, followed by the second phase in late November. Fluor was the turnkey contractor. The project had a total investment value (TIV) of $1.5 billion. For more information, see Industrial Info's project report. The plant will replace the power from the two retired coal-fired units, as well as the planned retirement of a nuclear facility at the site. For more information, see Industrial Info's project report.
Among Duke's other natural gas-fired projects is the Western Carolinas Modernization project, which aims to replace coal-fired generation with natural gas. Lynn said the plan was on track for a late-2019 in-service date. The project includes construction of a 560-MW combined cycle unit at the company's power station in Arden, North Carolina. Construction began in late 2017. McDermott International Incorporated (NYSE:MDR) (Houston, Texas) is providing EPC on the project, which has an estimated TIV of $600 million. For more information, see Industrial Info's project report.
Duke also has a handful projects planned at coal-fired plants to enable them to burn both coal and natural gas. Among these is the 2,160-MW Belews Creek Power Station in North Carolina. Construction is planned to kick off early next year and be completed by the end of the year. For more information, see Industrial Info's project report.
Duke's carbon emissions-reduction plan also extends to nuclear operations. Good said, "Our 11 nuclear units are fundamental to providing carbon-free generation to our Carolinas customers and essential to our long-term carbon-reduction goals. As we look forward, we are evaluating subsequent license renewals of these facilities for an additional 20 years to continue serving customers with the reliable service they expect."
Lynn said Duke also has a strong commitment to renewables. "In Florida, we are building up to 700 MW of solar under our existing settlement agreement, including our Hamilton plant, which came online in late 2018." Construction on the 74.9-MW Hamilton plant, near Jasper, Florida, began last summer with M.A. Mortenson Company (Minneapolis, Minnesota) providing EPC. For more information, see Industrial Info's project report.
Among the solar projects Duke plans to kick off in Florida this year is the 74.9-MW Columbia solar plant near Fort White. Construction is expected to begin this summer and be completed in the first quarter of 2020. M.A. Mortenson is providing EPC. 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 fourth-quarter 2018 earnings conference call, Chief Executive Officer Lynn Good spoke about Duke's strategies. Good said, "We have outlined plans to reduce our carbon emissions by 40% by 2030. ... We've retired more than 6 gigawatts of coal generation since 2011, including two Crystal River units in Florida that were retired in December. Over the next six years, we plan to retire another 1,200 megawatts (MW) of coal generation and replace it with lower-carbon alternatives such as renewables and natural gas-fired facilities."
Among Duke's projects to meet this goal is the W.S. Lee and Citrus County combined cycle plants, which went into service last year. The W.S. Lee project in South Carolina included adding a 750-MW combined cycle unit. Construction on the project began in the first half of 2014, with Fluor Corporation (NYSE:FLR) (Irving, Texas) providing engineering, procurements and construction (EPC). The plant went into service early last year. For more information, see Industrial Info's project report.
Construction on the Citrus County, Florida, combined cycle plant began in 2016. The plant has a generating capacity of 1,640 MW, and the first 820-MW phase was placed in service in October, followed by the second phase in late November. Fluor was the turnkey contractor. The project had a total investment value (TIV) of $1.5 billion. For more information, see Industrial Info's project report. The plant will replace the power from the two retired coal-fired units, as well as the planned retirement of a nuclear facility at the site. For more information, see Industrial Info's project report.
Among Duke's other natural gas-fired projects is the Western Carolinas Modernization project, which aims to replace coal-fired generation with natural gas. Lynn said the plan was on track for a late-2019 in-service date. The project includes construction of a 560-MW combined cycle unit at the company's power station in Arden, North Carolina. Construction began in late 2017. McDermott International Incorporated (NYSE:MDR) (Houston, Texas) is providing EPC on the project, which has an estimated TIV of $600 million. For more information, see Industrial Info's project report.
Duke also has a handful projects planned at coal-fired plants to enable them to burn both coal and natural gas. Among these is the 2,160-MW Belews Creek Power Station in North Carolina. Construction is planned to kick off early next year and be completed by the end of the year. For more information, see Industrial Info's project report.
Duke's carbon emissions-reduction plan also extends to nuclear operations. Good said, "Our 11 nuclear units are fundamental to providing carbon-free generation to our Carolinas customers and essential to our long-term carbon-reduction goals. As we look forward, we are evaluating subsequent license renewals of these facilities for an additional 20 years to continue serving customers with the reliable service they expect."
Lynn said Duke also has a strong commitment to renewables. "In Florida, we are building up to 700 MW of solar under our existing settlement agreement, including our Hamilton plant, which came online in late 2018." Construction on the 74.9-MW Hamilton plant, near Jasper, Florida, began last summer with M.A. Mortenson Company (Minneapolis, Minnesota) providing EPC. For more information, see Industrial Info's project report.
Among the solar projects Duke plans to kick off in Florida this year is the 74.9-MW Columbia solar plant near Fort White. Construction is expected to begin this summer and be completed in the first quarter of 2020. M.A. Mortenson is providing EPC. 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.
