February 21, 2018 Read More →

U.S. Utility Giant Duke Energy Increases Its Renewables Spend to $1.5 Billion

S&P Global Market Intelligence:

Duke Energy Corp. expects to funnel more capital into commercial renewables but will continue to focus the bulk of its investments on the grid over the next five years.

The updated growth capital plan focuses $28.8 billion on electric utilities, including regulated renewables, and $6.7 billion on gas utilities. The plan also increases investments in commercial renewables to $1.5 billion from $1 billion.

“We have modestly increased our level of investment in commercial renewables and will look to utilize tax equity partners to continue investing in solar and wind projects,” Duke Energy Executive Vice President and CFO Steven Young said on the Feb. 20 conference call.

Good added that the company is “optimistic” about investment opportunities in the tax equity market.

Duke Energy also sees opportunities for growth with regulated renewables based on solar policy reform in North Carolina and Duke Energy Florida LLC’s commitment to develop 700 MW of solar over the next four years.

More: ($) Duke Energy to increase renewables spending, maintain focus on grid 

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