Reports related to this article:
Project(s): View 5 related projects in PECWeb
Plant(s): View 3 related plants in PECWeb
en
Researched by Industrial Info Resources (Sugar Land, Texas)--Like other power utilities, Duke Energy Corporation (NYSE:DUK) (Charlotte, North Carolina) has set a goal for net-zero carbon emissions by 2050. As Duke moves toward this target, the company expects to have more than 16,000 megawatts (MW) of renewable energy installed by 2025, and plans on renewing the licenses for its nuclear power plants as these approach the end of their licensing periods.
In the company's second-quarter 2021 earnings conference call with analysts, Chief Executive Officer Lynn Good said, "Renewables are playing a major role on our path to net-zero. We continue construction on approximately 250 MW of new solar projects in North Carolina and Florida that we expect to bring online by the end of this year."
Such projects include several solar facilities with generating capacities of about 75 MW throughout Florida, such as the Fort Green solar power plant in Wauchula, about 70 miles southeast of Tampa. The facility will use an estimated 265,000 First Solar (NASDAQ:FSLR) (Tempe, Arizona) panels on a fixed-tilt racking system. The project is expected to be completed by the end of this year. Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project Database can click here for the project report.
But Duke's renewable buildout is not occurring in just North Carolina and Florida, but in other states. Good mentioned the Maryneal Windfarm in Blackwell, Texas, commissioning of which helped the company surpass the milestone of 10,000 MW of renewable resources. Wanzek Construction Incorporated (West Fargo, North Dakota) provided engineering, procurement and construction (EPC) services on the facility, which has a generating capacity of 182 MW. Subscribers can click here for the project report.
While hydropower represents a smaller portion of Duke's energy mix, the company is pursuing a few projects in this sector, such as the upgrade of four turbines at the 1,064-MW Bad Creek Pumped-Storage Station in Salem, South Carolina. The project kicked off in 2019 and entails replacing the turbine runners and rewinding the generators to increase generation by 200 MW and extend the plant's service life. The project is expected to be completed late next year. Subscribers can click here for the project report.
Duke is on track to have 16,000 MW of renewables by 2025 and 24,000 MW by 2030. Good said by 2050, renewables are expected to represent 40% or more the company's energy mix.
As Duke expands its wind and solar footprint, a key element in its goal toward net-zero emissions is nuclear power. Good said, "Nuclear is also a foundational component of our strategy, providing the largest source of reliable carbon-free energy we have in our system. ... Our nuclear fleet provided 83% of the company's carbon-free generation in 2020 and avoided the release of nearly 50 million tons of carbon dioxide."
In June, Duke submitted its subsequent license renewal application for the Oconee Nuclear Power Plant in Seneca, South Carolina. The facility is Duke's largest nuclear power station, with three units generating 2,500 MW. Oconee's operating licenses remain current through the early 2030s; the subsequent, or second, license renewal would extend the operating licenses to 2053 and 2054. Subscribers to Industrial Info's Power Plant Database can click here for the Oconee plant profile. Good said, "We'll pursue similar extensions for each of our remaining reactors as they approach the end of their respective licensing periods."
Duke also plans to perform uprates on each Oconee's three reactors by instrumentation and controls upgrades and modifications to supply systems. The uprates will boost each unit's capacity by approximately 42 MW and are expected to occur in conjunction with refueling outages, with the first, on the 846-MW Unit 2, expected to kick off later this year. For more information, see Industrial Info's project reports on the uprates for Unit 1, Unit 2 and Unit 3.
Duke reported second-quarter 2021 net income of $751 million, compared with a loss of $817 million in the second quarter of 2020.
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.
In the company's second-quarter 2021 earnings conference call with analysts, Chief Executive Officer Lynn Good said, "Renewables are playing a major role on our path to net-zero. We continue construction on approximately 250 MW of new solar projects in North Carolina and Florida that we expect to bring online by the end of this year."
Such projects include several solar facilities with generating capacities of about 75 MW throughout Florida, such as the Fort Green solar power plant in Wauchula, about 70 miles southeast of Tampa. The facility will use an estimated 265,000 First Solar (NASDAQ:FSLR) (Tempe, Arizona) panels on a fixed-tilt racking system. The project is expected to be completed by the end of this year. Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project Database can click here for the project report.
But Duke's renewable buildout is not occurring in just North Carolina and Florida, but in other states. Good mentioned the Maryneal Windfarm in Blackwell, Texas, commissioning of which helped the company surpass the milestone of 10,000 MW of renewable resources. Wanzek Construction Incorporated (West Fargo, North Dakota) provided engineering, procurement and construction (EPC) services on the facility, which has a generating capacity of 182 MW. Subscribers can click here for the project report.
While hydropower represents a smaller portion of Duke's energy mix, the company is pursuing a few projects in this sector, such as the upgrade of four turbines at the 1,064-MW Bad Creek Pumped-Storage Station in Salem, South Carolina. The project kicked off in 2019 and entails replacing the turbine runners and rewinding the generators to increase generation by 200 MW and extend the plant's service life. The project is expected to be completed late next year. Subscribers can click here for the project report.
Duke is on track to have 16,000 MW of renewables by 2025 and 24,000 MW by 2030. Good said by 2050, renewables are expected to represent 40% or more the company's energy mix.
As Duke expands its wind and solar footprint, a key element in its goal toward net-zero emissions is nuclear power. Good said, "Nuclear is also a foundational component of our strategy, providing the largest source of reliable carbon-free energy we have in our system. ... Our nuclear fleet provided 83% of the company's carbon-free generation in 2020 and avoided the release of nearly 50 million tons of carbon dioxide."
In June, Duke submitted its subsequent license renewal application for the Oconee Nuclear Power Plant in Seneca, South Carolina. The facility is Duke's largest nuclear power station, with three units generating 2,500 MW. Oconee's operating licenses remain current through the early 2030s; the subsequent, or second, license renewal would extend the operating licenses to 2053 and 2054. Subscribers to Industrial Info's Power Plant Database can click here for the Oconee plant profile. Good said, "We'll pursue similar extensions for each of our remaining reactors as they approach the end of their respective licensing periods."
Duke also plans to perform uprates on each Oconee's three reactors by instrumentation and controls upgrades and modifications to supply systems. The uprates will boost each unit's capacity by approximately 42 MW and are expected to occur in conjunction with refueling outages, with the first, on the 846-MW Unit 2, expected to kick off later this year. For more information, see Industrial Info's project reports on the uprates for Unit 1, Unit 2 and Unit 3.
Duke reported second-quarter 2021 net income of $751 million, compared with a loss of $817 million in the second quarter of 2020.
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.
