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Released August 05, 2022 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--Duke Energy Corporation (NYSE:DUK) (Charlotte, North Carolina) is on track to achieve what Chief Executive Officer Lynn Good referred to "the industry's largest clean-energy transition" in a Thursday conference call with analysts. Duke is executing its plan by closing coal-fired power plants, building out renewables and energy storage, and renewing its nuclear operating licenses.
On May 16, Duke filed its Carbon Plan with the North Carolina Utilities Commission (NCUC), which includes four portfolios to meet 70% interim carbon-reduction targets by 2030, with an aim toward net-zero carbon emissions by 2050. Among the proposed near-term resources are:
Duke already is taking steps toward carbon reduction in North Carolina with planned coal ash pond closures and dismantlement of coal-fired assets. In Elkin, about 75 miles north of Charlotte, Duke is underway with a small solar installation. The Partin facility will use an estimated 192,000 photovoltaic modules on a single-axis tracking system to generate 50 MW. The project is expected to be completed later this year. Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project Database can click here for more details.
But Duke's renewable energy plans extend beyond its home state. In Florida, the company has plans to install 300 MW of solar power generation this year and is already well on its way to achieving this goal, having installed three of four plants each with generating capacities of about 75 MW. Duke is nearing completion of its 74.9-MW Charlie Creek photovoltaic plant in Wauchula, about 70 miles southeast of Tampa. Construction kicked off last year. The facility will use approximately 229,600 thin-film modules on a single-axis tracking system. Wanzek Construction Incorporated (Fargo, North Dakota) is providing engineering, procurement and construction (EPC) services. Subscribers can click here for more details.
On the power transmission and distribution side in Florida, Duke is underway with the Polk County Electric Reliability Project, which will help deliver power to the major growth areas in Central Florida and surrounding areas. The project includes two substation upgrades and two new transmission lines, totaling about 48 miles. Subscribers can click here for project details.
Duke intends to renew the operating licenses of all 11 nuclear reactors it operates for an additional 20 years. Last year, the company submitted an application for its Oconee Nuclear Power Plant 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.
Also in South Carolina, Duke is underway with a turbine upgrade project at its Bad Creek pumped-storage hydropower station in Salem. The turbine runners are being replaced, and generator rewinds are occurring to boost generation by 200 MW and extend service life. The project kicked off in 2019 and is expected to be completed later this year. Subscribers can click here for the project report.
Duke is extending its renewable energy arm outside of the U.S. Southeast and Mid-Atlantic regions. In Richland, Texas, the company is underway with the Pisgah Ridge photovoltaic power plant, which will use 650,000 solar modules to achieve a nameplate generating capacity of 250 MW. The project is expected to wrap up later this year. Subscribers can click here for more details.
In Ledyard, Iowa, Duke is underway with construction on a windfarm that will use 56 4.2-MW turbines to achieve a generating capacity of 235 MW. EPC contractor Wanzek kicked off construction last summer and expects to complete the project by the end of this year. Subscribers can click here for the project report.
Duke reported second-quarter 2022 net income of $893 million, compared with $751 million in the prior-year quarter.
Click here for a look at all of the projects discussed in this article, and here for the plant profiles.
Industrial Info Resources (IIR) is the world's leading provider of market intelligence across the upstream, midstream and downstream energy markets and all other major industrial markets. IIR's Global Market Intelligence Platform (GMI) supports our end-users across their core businesses, and helps them connect trends across multiple markets with access to real, qualified and validated project opportunities. Follow IIR on: LinkedIn.
On May 16, Duke filed its Carbon Plan with the North Carolina Utilities Commission (NCUC), which includes four portfolios to meet 70% interim carbon-reduction targets by 2030, with an aim toward net-zero carbon emissions by 2050. Among the proposed near-term resources are:
- 3,100 megawatts (MW) of new solar power, with 600 MW of paired energy storage
- 1,000 MW of standalone battery energy storage
- 600 MW of onshore wind power
- 2,000 MW of natural gas-fired power generation capable of burning hydrogen
- Grid enhancements to support the interconnection of new renewables and storage
Duke already is taking steps toward carbon reduction in North Carolina with planned coal ash pond closures and dismantlement of coal-fired assets. In Elkin, about 75 miles north of Charlotte, Duke is underway with a small solar installation. The Partin facility will use an estimated 192,000 photovoltaic modules on a single-axis tracking system to generate 50 MW. The project is expected to be completed later this year. Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project Database can click here for more details.
But Duke's renewable energy plans extend beyond its home state. In Florida, the company has plans to install 300 MW of solar power generation this year and is already well on its way to achieving this goal, having installed three of four plants each with generating capacities of about 75 MW. Duke is nearing completion of its 74.9-MW Charlie Creek photovoltaic plant in Wauchula, about 70 miles southeast of Tampa. Construction kicked off last year. The facility will use approximately 229,600 thin-film modules on a single-axis tracking system. Wanzek Construction Incorporated (Fargo, North Dakota) is providing engineering, procurement and construction (EPC) services. Subscribers can click here for more details.
On the power transmission and distribution side in Florida, Duke is underway with the Polk County Electric Reliability Project, which will help deliver power to the major growth areas in Central Florida and surrounding areas. The project includes two substation upgrades and two new transmission lines, totaling about 48 miles. Subscribers can click here for project details.
Duke intends to renew the operating licenses of all 11 nuclear reactors it operates for an additional 20 years. Last year, the company submitted an application for its Oconee Nuclear Power Plant 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.
Also in South Carolina, Duke is underway with a turbine upgrade project at its Bad Creek pumped-storage hydropower station in Salem. The turbine runners are being replaced, and generator rewinds are occurring to boost generation by 200 MW and extend service life. The project kicked off in 2019 and is expected to be completed later this year. Subscribers can click here for the project report.
Duke is extending its renewable energy arm outside of the U.S. Southeast and Mid-Atlantic regions. In Richland, Texas, the company is underway with the Pisgah Ridge photovoltaic power plant, which will use 650,000 solar modules to achieve a nameplate generating capacity of 250 MW. The project is expected to wrap up later this year. Subscribers can click here for more details.
In Ledyard, Iowa, Duke is underway with construction on a windfarm that will use 56 4.2-MW turbines to achieve a generating capacity of 235 MW. EPC contractor Wanzek kicked off construction last summer and expects to complete the project by the end of this year. Subscribers can click here for the project report.
Duke reported second-quarter 2022 net income of $893 million, compared with $751 million in the prior-year quarter.
Click here for a look at all of the projects discussed in this article, and here for the plant profiles.
Industrial Info Resources (IIR) is the world's leading provider of market intelligence across the upstream, midstream and downstream energy markets and all other major industrial markets. IIR's Global Market Intelligence Platform (GMI) supports our end-users across their core businesses, and helps them connect trends across multiple markets with access to real, qualified and validated project opportunities. Follow IIR on: LinkedIn.
