DUKE WANTS NEW ENERGY

Duke hopes to add 3,750 MW of renewables over next 8 years

Amy Poszywak, April 23, 2013 (SNL)

“Building on the recent news that Google Inc. will participate in…[a Duke Energy Corp.] renewable energy rate plan, Duke] has set a goal of owning or contracting 6,000 MW of wind, solar and biomass energy by 2020…Duke owns about 2,251 MW of generation powered by those three resources, representing about 3% of its total generation fleet, according to SNL Energy data. In order to achieve its goal, the company would need to add approximately 3,749 MW of wind, solar or biomass within eight years…

“In 2012, Duke Energy Renewables added close to 650 MW of wind and solar capacity across the U.S., representing an all-time high for the non-regulated renewable energy business, according to the company's report. Since the subsidiary was created in 2007, it has invested more than $2.5 billion in renewable energy.”

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“The momentum has carried into 2013…Duke Energy Renewables [this year] acquired the Highland Solar 1 and 2 power projects, which will collectively generate 21 MW of power…According to SNL data, Duke Energy Renewables has 512 MW of wind and solar projects in development, with total maximum construction costs of roughly $960 million…[and a] total operating capacity at Duke Energy Renewables of about 2,200 MW across 12 states…

“…[Duke also aims to have] rates lower than the national average…[with] a nuclear capacity factor of at least 93.25%, a regulated fossil commercial availability of at least 87.92%...[a] renewables yield of at least 92.63% in 2013….[and] an average number of outages longer than 5 minutes per customer of 1.19 or less and an average time without power of 130 minutes or less in 2013…[It also] hopes to achieve a cumulative reduction in customer energy consumption of 15,000 GWh and achieve a cumulative reduction in peak demand of 4,800 MW by 2020.”

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