STOCK TITAN

Duke Energy, Purdue University collaborate on new, efficient energy source

Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Positive)
Tags
Rhea-AI Summary

Duke Energy has launched a new 16-megawatt natural gas-powered Combined Heat and Power Plant at Purdue University in Indiana. This facility not only produces cleaner energy for customers but also generates steam for the university's heating needs. It is expected to reduce carbon dioxide emissions by 50,000 metric tons, equivalent to removing 10,000 cars from the road. Additionally, the plant enhances operational flexibility for Purdue and improves grid reliability in the Lafayette area. Duke Energy aims for a reduction in carbon emissions by 50% by 2030 and net-zero emissions by 2050.

Positive
  • New plant reduces carbon dioxide emissions by 50,000 metric tons.
  • Facility enhances energy efficiency and reliability for Purdue University.
  • Provides emergency power to Purdue during grid disruptions.
  • Aids in Duke Energy's goal of 50% carbon reduction by 2030.
Negative
  • None.
  • New plant expected to reduce greenhouse gas emissions.

PLAINFIELD, Ind. AND WEST LAFAYETTE, Ind., April 14, 2022 /PRNewswire/ -- A new, efficient source of power for Duke Energy's Indiana customers and Purdue University is now operating.

The Duke Energy Combined Heat and Power Plant at Purdue University is a 16-megawatt natural gas-powered plant on the southern edge of the university's West Lafayette campus.

Built, owned and operated by Duke Energy, the plant produces electricity for the company's customers and is a new source of thermal energy in the form of steam for Purdue's heating and hot water needs.

"We're creating a reliable source of steam for Purdue's power needs and an efficient source of power for our Indiana customers," said Duke Energy Indiana President Stan Pinegar. "We've collaborated with one of our leading customers to add a new, cleaner resource to our generation fleet."

Efficient, cleaner technology

The plant is a natural gas-fueled facility that generates energy more efficiently. By capturing and utilizing heat that would otherwise be wasted during the production of electricity, combined heat and power plants require less fuel to produce the same amount of total energy. This translates into reduced environmental emissions.

"Duke Energy continues to be a dependable partner, open to innovative ideas and process improvements," said Purdue University President Mitch Daniels. "This collaborative relationship has yielded a new plant that moves us further down the path of carbon reduction and meets the needs of both partners more efficiently than either of us could have achieved alone."

The environmental benefits can be significant with combined heat and power plants. 

The new plant is projected to reduce carbon dioxide emissions by approximately 50,000 metric tons, or the equivalent of removing 10,000 passenger vehicles from the road. This is because the plant will enable the university to use steam produced from heat that would otherwise be wasted.

Operational benefits

Purdue University uses steam as an efficient method to provide heat and hot water to campus facilities. By using steam from the new plant, the university will have more operational flexibility. Also, in the event of a major regional electric grid disruption, the new plant can provide emergency power to the university that would help keep the campus running.

Through an approved agreement, Duke Energy will sell to the university the steam the plant produces, and revenues from the steam sale will benefit Duke Energy customers. The plant can produce up to 150,000 pounds of steam per hour. 

Duke Energy's Indiana customers will have a new source of electricity produced from cleaner-burning natural gas, helping to diversify the company's current power generation fleet. The plant also will improve the stability and reliability of the electrical grid serving the Lafayette/West Lafayette area by having a local source of power generation.

Duke Energy Indiana

Duke Energy Indiana, a subsidiary of Duke Energy, provides about 6,300 megawatts of owned electric capacity to approximately 870,000 customers in a 23,000-square-mile service area, making it Indiana's largest electric supplier.

Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of America's largest energy holding companies. Its electric utilities serve 8.2 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and collectively own 50,000 megawatts of energy capacity. Its natural gas unit serves 1.6 million customers in North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The company employs 28,000 people.

Duke Energy is executing an aggressive clean energy transition to achieve its goals of net-zero methane emissions from its natural gas business and at least a 50% carbon reduction from electric generation by 2030 and net-zero carbon emissions by 2050. The 2050 net-zero goals also include Scope 2 and certain Scope 3 emissions. In addition, the company is investing in major electric grid enhancements and energy storage, and exploring zero-emission power generation technologies such as hydrogen and advanced nuclear.

Duke Energy was named to Fortune's 2022 "World's Most Admired Companies" list and Forbes' "America's Best Employers" list. More information is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos and videos. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on TwitterLinkedInInstagram and Facebook.

Purdue University

Purdue University is a top public research institution developing practical solutions to today's toughest challenges. Ranked in each of the last four years as one of the 10 Most Innovative universities in the United States by U.S. News & World Report, Purdue delivers world-changing research and out-of-this-world discovery. Committed to hands-on and online, real-world learning, Purdue offers a transformative education to all. Committed to affordability and accessibility, Purdue has frozen tuition and most fees at 2012-13 levels, enabling more students than ever to graduate debt-free. See how Purdue never stops in the persistent pursuit of the next giant leap at https://stories.purdue.edu.

Media contacts:

Duke Energy – Angeline Protogere
Cell: 317.431.1910
Media line: 800.559.3853

Purdue UniversityRebecca Terry
Phone: 765.413.5103

 

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/duke-energy-purdue-university-collaborate-on-new-efficient-energy-source-301525938.html

SOURCE Duke Energy

FAQ

What is the purpose of Duke Energy's new plant at Purdue University?

The new plant serves as a cleaner energy source, generating electricity for customers and steam for Purdue's heating needs.

How much carbon dioxide will Duke Energy's new plant reduce?

The new plant is projected to reduce carbon dioxide emissions by approximately 50,000 metric tons.

What are the operational benefits of the new Combined Heat and Power Plant for Purdue University?

The plant provides operational flexibility and can offer emergency power during significant electric grid disruptions.

What is Duke Energy's carbon reduction goal for 2030?

Duke Energy aims to achieve at least a 50% reduction in carbon emissions from electric generation by 2030.

What is the significance of the collaboration between Duke Energy and Purdue University?

The collaboration has resulted in a cleaner energy resource and improved operational efficiency, benefiting both parties.

Duke Energy Corporation

NYSE:DUK

DUK Rankings

DUK Latest News

DUK Stock Data

87.42B
771.29M
0.14%
67.35%
1.23%
Utilities - Regulated Electric
Electric & Other Services Combined
Link
United States of America
CHARLOTTE