Duke Energy Corporation - DUK STOCK NEWS

Duke Energy has awarded $648,000 in grants to 16 organizations across North Carolina aimed at enhancing workforce education and training programs. The funding prioritizes initiatives addressing skill gaps and fostering a diverse future workforce in the energy sector. Notable recipient North Carolina Central University reported an 82% increase in physics program enrollment due to previous support. These grants align with Duke Energy's Powerful Communities philanthropic program, underlining its commitment to building diverse workforce initiatives.

Duke Energy Florida has announced $655,000 in grants to 19 educational and workforce development programs aimed at addressing skills gaps exacerbated by the COVID-19 pandemic. The funding is part of the company’s commitment to fostering a skilled workforce in the energy sector. Notable recipients include Lake-Sumter State College and St. Petersburg College, with awards of $120,000 and $100,000 respectively. Duke Energy emphasizes its role in supporting local communities and enhancing career opportunities in the energy industry, which boasts an average annual salary exceeding $77,000.

Duke Energy Renewables is launching an innovative wind turbine maintenance service, utilizing an all-in-one crane package, the GenHook LT™, to streamline operations. This service minimizes the complexity and risks associated with traditional maintenance methods by consolidating resources into one team and one truck. Benefits include easier transport, quick setup, enhanced safety, reduced risk, and zero greenhouse emissions. Duke Energy operates 3,000 megawatts of renewable energy capacity and aims to optimize wind resources, contributing to the growth of clean energy in the U.S.

Duke Energy has commenced construction on two significant solar projects in North Carolina, totaling 94 megawatts (MW). The Maiden Creek solar facility will produce 69 MW, while the Gaston solar facility will contribute 25 MW. These projects aim to deliver cost-effective solar energy, supporting Duke Energy's commitment to reducing carbon emissions and achieving its 2050 net-zero goal. With about 400,000 solar panels, they will collectively power around 20,000 homes and create approximately 380 construction jobs. The projects are expected to be operational by year-end, further solidifying North Carolina's status as a leading solar energy state.

Duke Energy Renewables has officially launched its 200-megawatt alternating current (MWac) Rambler Solar project in Tom Green County, Texas. This facility, which is the second 200-MWac solar project brought online this year, expands Duke's Texas solar portfolio to over 500 MWac. The energy produced will power the equivalent of 40,000 homes under a 15-year agreement. The project emphasizes economic benefits and job creation, employing around 400 workers during peak construction and contributing significantly to the local economy over its operational lifespan.

Duke Energy Progress has launched the Asheville Combined Cycle Station in Arden, N.C., providing 560 megawatts of cleaner energy, sufficient to power approximately 450,000 homes. The $817 million facility includes two power blocks and is 75% more efficient than the coal plant it replaced. The project significantly reduces emissions, with a 60% drop in carbon dioxide and 99% reduction in sulfur dioxide. Additionally, it created 1,300 jobs and contributed $1.7 million in property taxes to Buncombe County.

Duke Energy Indiana will extend its suspension of service disconnections for non-payment until September 15, 2020, assisting customers affected by the COVID-19 pandemic. Customers can arrange payment plans for up to six months and are encouraged to access additional assistance through the Low-Income Home Energy Assistance Program (LIHEAP). The company aims to resume standard billing practices by mid-August 2020. Duke Energy has also contributed over $950,000 to local non-profits during the pandemic to support food security and small business recovery.

Duke Energy Florida will resume standard billing practices in mid-August while continuing to support customers facing economic hardship due to COVID-19. Disconnections for non-payment will commence on September 1. The company has suspended fees for late payments and credit card transactions, and has donated $1 million to COVID-19 relief in Florida. Enhanced customer care options and payment arrangements will be available, alongside resources for financial assistance. Duke Energy emphasizes customer support as it transitions back to regular operations.