Duke Energy and ENN Group Collaborate on Green Cities Initiative
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WASHINGTON, Jan. 18, 2011 - Duke Energy (NYSE: DUK) and China-based ENN Group announced an agreement today to collaborate on the development of technologies to help build greener cities in China and the United States.
The agreement creates the Future Energy Technology Demonstration Platform and paves the way to exchange knowledge on advanced energy, building and transportation technologies.
ENN is committed to the development and use of clean energy and is constructing China's first smart energy "eco-city" in Langfang, China, close to Beijing.
Duke will collaborate with ENN to develop the eco city and will adapt what is learned from the eco city development as it deploys clean energy technologies.
The agreement was signed by Duke Energy Chairman, President and Chief Executive Officer Jim Rogers and ENN Chairman Wang Yusuo. Chinese officials and representatives from the U.S. Department of State and Department of Energy attended the signing, which coincides with the diplomatic visit by Chinese President Hu Jintao to the United States.
The companies' shared vision for a "green" city encompasses electricity produced via cleaner generation technologies, energy storage, energy efficiency, energy recovery (for example, carbon absorption by microalgae), and electric vehicle infrastructure.
"This collaboration is not only a stepping stone for cleaner energy in China and the U.S.," said Chairman Wang. "ENN Group and Duke Energy's cooperation will lead to the development of new, cleaner ways to produce, store, distribute and use energy.
"This represents not only a collaboration between two companies, but also two countries, China and the United States. ENN and Duke Energy will complement one another's strengths as we seek to accelerate the commercialization of low-carbon technologies," Wang added"
"Today's agreement exemplifies what's possible when the U.S. and China collaborate on energy technologies for the 21st century," said Rogers. "Together we seek to demonstrate how these next-generation technologies can transform the way we live."
This collaboration follows an agreement by Duke Energy and ENN to accelerate the development of low-carbon and clean energy technologies announced Sept. 23, 2009, at the Clinton Global Initiative in New York. The companies are also working on jointly developing commercial solar power projects in the U.S., pursuant to an agreement signed Oct. 23, 2009.
About Duke Energy
Duke Energy is the third largest electric power holding company in the United States, based on kilowatt-hour sales. Its regulated utility operations serve approximately 4 million customers located in five states - North Carolina, South Carolina, Indiana, Ohio and Kentucky -- representing a population of approximately 11 million people. Duke Energy's commercial power and international business segments operate diverse power generation assets in North America and Latin America, including a growing portfolio of renewable energy assets in the United States.
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.
About ENN
ENN is pioneering innovative technologies that provide clean energy solutions for the world. It's the largest private clean energy solutions provider company in China. Since its founding 21 years ago, ENN has grown into an integrated group of companies that delivers clean energy to tens of millions of customers and provides overall clean energy solutions to city governments and heavy industry. ENN has more than 100 subsidiaries in over 100 cities across China and around the world, and employs more than 26,000 people. Additional information about ENN is available on the Internet at: www.enn.cn
SOURCE Duke Energy
CONTACT:MEDIA:Duke Energy,Dave Scanzoni,+1-704-382-2543,or24-Hour,800 -559-3853;orENN Group,Jing Su,+1-617-834-1802;orINVESTORS:Duke Energy,Bill Currens,+1-704-382-1603
Web Site: www.duke-energy.com
