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(Adds details, background) May 19 (Reuters) - Duke Energy Corp, the largest U.S. power company by generation capacity, said it would invest $1.1 billion to retire a coal-powered power plant in North Carolina and build a natural gas plant at the site over four to five years. The company said it will shut down the 376-megawatt (MW) Asheville coal power plant and build a 650-MW natural gas-fired power plant, and also install solar generation at the site. The investment includes about $320 million to build a transmission substation, a 40-mile transmission line and upgrade infrastructure, the company said. Duke last week pleaded guilty to environmental crimes over a North Carolina power plant's coal ash spill and management of coal ash basins in the state as part of a settlement with the U.S. Department of Justice announced in February. U.S. power companies are shutting down their coal-powered plants as part of the Obama administration's to reduce carbon emissions from such plants. U.S. power companies shut or converted over 4,100 megawatts of coal-fired plants in 2014 and expect to stop burning coal at another 22,100 MW in 2015, according to Thomson Reuters data. Duke said it was working with the local natural gas distributor to upgrade an existing pipeline to supply gas. The company said it would not have to develop 126 MW oil-powered generation to meet peak demand and other investments planned for 2019 following the investment. (Reporting by Shubhankar Chakravorty in Bengaluru; Editing by Kirti Pandey and Sriraj Kalluvila)
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Duke Energy
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CODE : DUK |
ISIN : US26441C2044 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Duke Energy is a and oil producing company based in United states of america. Duke Energy is listed in United States of America. Its market capitalisation is US$ 67.5 billions as of today (€ 59.2 billions). Its stock quote reached its lowest recent point on May 02, 2003 at US$ 10.00, and its highest recent level on February 17, 2023 at US$ 99.99. Duke Energy has 700 299 523 shares outstanding. |