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Duke Energy Release date: December 12, 2007
CHARLOTTE, N.C., Dec. 12 / -- Duke Energy is expanding its renewable energy portfolio through a contract to purchase 100 wind turbines from General Electric.
The turbines, capable of generating a total of 150 megawatts, are anticipated to be in service in the 2009-2010 timeframe on sites currently under review in the western and southwestern United States.
The company's wind generation assets are managed by Duke Energy Generation Services (DEGS), a Duke Energy subsidiary that focuses on renewable energy, commercial power and onsite energy across the United States.
"Growing our wind power portfolio underscores our commitment to reduce carbon emissions across the United States," said DEGS President Wouter van Kempen.
Earlier this year, DEGS acquired the development assets of Tierra Energy, a wind power development company located in Austin, Texas. The purchase included more than 1,000 megawatts of wind assets under development in the western and southwestern United States. Three of the projects in development - a total of approximately 240 megawatts - are located in Texas and Wyoming, and are anticipated to be in commercial operation in late 2008 or early 2009.
"Our agreement with General Electric increases our investment in the wind business and further expands Duke Energy's renewable energy fleet," said David Marks, DEGS senior vice president for wind energy development.
Terms of the contract with General Electric were not disclosed.
Duke Energy Generation Services (DEGS) develops, owns and operates electric generation for large energy consumers, municipalities, utilities and industrial facilities. DEGS specializes in developing innovative and environmentally sound generation solutions using a variety of fuels, including natural gas, coal, waste coal and wood, as well as wind and other renewable energy.
Duke Energy, one of the largest electric power companies in the United States, supplies and delivers energy to approximately 4 million U.S. customers. The company has approximately 36,000 megawatts of electric generating capacity in the Midwest and the Carolinas, and natural gas distribution services in Ohio and Kentucky. In addition, Duke Energy has more than 4,000 megawatts of electric generation in Latin America, and is a joint- venture partner in a U.S. real estate company.
Headquartered in Charlotte, N.C., Duke Energy is a Fortune 500 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available on the Internet at: www.duke-energy.com .
FCMN Contact: crwheele@duke-energy.com
Source: Duke Energy
CONTACT: Rick Rhodes, +1-704-382-3747, or +1-704-382-8333 (24-hour), or Analysts, Sean Trauschke, +1-980-373-7905, both for Duke Energy
Web site: http://www.duke-energy.com/
Company Information:
Name: Duke Energy
Address: 422 S. Church St., P.O. Box 1244
City: Charlotte
State: NC
ZIP: 28201
Country: USA
Phone: 704-594-6200
http://www.duke-energy.com
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