Duke Energy Corporation - DUK STOCK NEWS

Duke Energy Sustainable Solutions has commenced construction on the 120-megawatt Jackpot Solar project in Twin Falls County, Idaho, marking its first renewable energy facility in the state. Upon completion, it will be Idaho's largest solar facility and is scheduled to be operational by the end of 2022. The project will supply energy to Idaho Power under a 20-year power purchase agreement, aiding Idaho Power's goal of achieving 100% clean energy by 2045. The initiative is expected to employ around 200 workers and generate significant economic benefits for the local community.

Duke Energy (NYSE: DUK) announced its investment in two renewable natural gas (RNG) projects in North Carolina, Foothills Renewables and Upper Piedmont Renewables. These initiatives will convert landfill gas from local landfills into RNG, producing approximately 1 million dekatherms annually, equivalent to the annual usage of about 17,000 homes. Developed by Evensol LLC and constructed by Energyneering Solutions LLC, the projects aim to enhance sustainability and are expected to be operational by Q4 2022.

Purdue University and Duke Energy announced a collaboration to explore the feasibility of using Small Modular Reactors (SMRs) to meet the energy needs of Purdue's campus. This initiative aims to provide reliable and carbon-free power, aligning with rising global interest in nuclear technology. The partnership leverages Purdue's expertise in nuclear engineering to evaluate the practicality of SMRs, which are noted for their modularity and efficiency. Duke Energy's considerable experience in nuclear operations will aid this exploration, potentially impacting the state's energy grid.

Duke Energy (NYSE: DUK) achieved a record in renewable energy, adding nearly 1,800 MW in 2021, leading to a total of over 10,500 MW of wind and solar capacity. The company successfully reduced carbon emissions by 44% from 2005 levels and is on track for a 50% reduction by 2030. Duke Energy aims for net-zero emissions by 2050, with a commitment to improve its energy mix significantly. The ESG Report highlights substantial investments, economic contributions, and a commitment to diversity and environmental justice.

On April 22, 2022, Indiana First Lady Janet Holcomb joined Duke Energy Indiana President Stan Pinegar and local officials to plant 5,000 trees at Ravinia State Forest. The initiative supports Indiana Governor Eric Holcomb's pledge to plant 1 million trees by 2025. The Indiana Department of Natural Resources provided various tree species, enhancing habitats and carbon sequestration. Duke Energy Foundation contributed $150,000 for forest development. Duke Energy, Indiana's largest electric supplier, serves about 870,000 customers, focusing on community and environmental stewardship.

Duke Energy (NYSE: DUK) will hold its annual shareholders meeting online on May 5, 2022, at 1 p.m. ET. Chair, President, and CEO Lynn Good will discuss the company's 2021 performance and future strategy. Shareholders can participate, vote on proposals, and ask questions, which will be addressed during or after the meeting. Details on accessing the meeting are found in the company's proxy statement.

Duke Energy Progress announced a proposed increase in fuel costs for South Carolina customers, citing rising demand and escalating fuel prices. If approved, residential bills would rise 8.3%, from $122.86 to $133.01 starting July 1, 2022. Commercial and industrial clients would see increases of approximately 9.5% and 12.1%, respectively. The increase aims to recover a $32 million under-recovery due to prior year fuel costs and reflects a true-up adjustment mandated by the Public Service Commission of South Carolina.

Duke Energy is launching its Clean Energy Connection program in Florida, inviting customers to subscribe starting April 20. Participants can access solar energy without needing their own equipment, benefiting from bill credits based on solar production. The program allocates 26 megawatts for low-income customers, ensuring guaranteed savings. Monthly fees are set at $8.35 per kW, with bill credits expected to surpass subscription costs within three to five years. Duke Energy is investing over $2 billion in solar infrastructure, aiming for 1,500 MW of emission-free generation by 2024.

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.