Duke Energy Corp Stock Price, News & Analysis

Duke Energy Sustainable Solutions announces the construction of the 250 MW Pisgah Ridge Solar project in Navarro County, Texas, set to become their largest utility-scale solar facility. The project has attracted virtual power purchase agreements (VPPAs) from Charles River Laboratories for 102 MW, aiming for 100% renewable electricity by 2023. Expected to generate enough power for 63,000 homes, the facility will create 200-300 construction jobs and provide tax revenue for local schools. Duke plans to double its renewable portfolio to 16 GW by 2025.

Duke Energy urges customers to prepare for the 2021 Atlantic hurricane season, predicting 20 storms and 9 hurricanes. The company has invested in grid improvements to enhance reliability and resilience against severe weather. Self-healing technology prevented nearly 600,000 outages last year in North Carolina, South Carolina, and Florida. Additionally, Duke Energy's new 'Ping-it' technology allows for faster verification of service restoration. Customers are encouraged to create emergency plans and update contact information for outage alerts.

Duke Energy filed a $56 million proposal for Phase II programs to promote transportation electrification in North Carolina, following approval of a $25 million Phase I program by the N.C. Utilities Commission. The latest plans aim to install over 1,000 charging ports and support initiatives like expanding DC fast charging along highways and financial aid for electric school buses. The goal aligns with the state's target of 80,000 zero-emission vehicles by 2025, addressing barriers for low and moderate-income families and enhancing EV market development.

Duke Energy has commenced construction on the 22.6-MW Speedway Solar power plant in Cabarrus County, North Carolina, aiming for completion by the end of 2021. This facility will utilize 77,000 Jinko bifacial modules and is expected to power 5,000 homes. The project is part of North Carolina's competitive bidding for renewable energy and supports Duke's goal of achieving net-zero carbon emissions by 2050. During peak construction, around 70 workers will be employed, contributing to local economic growth.

AMPLY Power and Duke Energy Sustainable Solutions have teamed up to enhance bus fleet electrification with a new solar canopy and overhead electric vehicle charging solution. This innovative offering, supported by a Power Purchase Agreement (PPA), aims to reduce costs and promote the use of renewable electricity for charging systems. AMPLY's unique Pantograph In-Depot Equipment (PIDE) Canopy Mount simplifies the transition to electric vehicles, enabling fleets to budget effectively and minimize energy costs. This collaboration includes a comprehensive infrastructure plan, designed to meet zero-emission targets and offer long-term financial predictability.

Malta Inc. and Duke Energy are collaborating to assess the benefits of transforming retiring coal units into long-duration, zero-emissions energy storage systems. Funded by a U.S. Department of Energy grant, the year-long study will evaluate Malta's 100-megawatt, 10-hour pumped heat energy storage system integrated into Duke Energy's coal plant in North Carolina. The project aims to support Duke's goal of achieving net-zero carbon emissions by 2050 and will provide insights into job retention, local economic impacts, and environmental advantages, including increased integration of renewable energy.

On May 17, 2021, Duke Energy (NYSE: DUK) issued a statement in response to Elliott Management's latest proposals regarding the company. Since July 2020, Duke Energy's Board has concluded that Elliott's proposals do not align with the company's long-term interests. Duke Energy plans to invest over $125 billion in clean energy over the next decade, aiming for 5% to 7% annual earnings growth. The company's share price has increased by 25.2% over the last year, outperforming the S&P Utility Index. Duke Energy is committed to modernizing its operations and achieving net-zero carbon emissions by 2050.

Duke Energy announced that its new corporate headquarters, Duke Energy Plaza, is under construction in Uptown Charlotte. This 40-floor tower will consolidate the company's real estate footprint from 2.5 million to 1 million square feet, housing approximately 4,400 employees. The company anticipates saving $85-$90 million over five years, which will benefit customers. The new workplace model promotes hybrid work options. Duke Energy aims to enhance collaboration and productivity while committing to an aggressive clean energy strategy, targeting net-zero carbon emissions by 2050.

Duke Energy Foundation has awarded a $100,000 grant to Mental Health America–Wabash Valley Region in Lafayette to enhance staffing at two suicide prevention call centers serving 87 of Indiana's 92 counties. This funding responds to increased demand expected from the upcoming launch of the national 988 suicide prevention hotline in July 2022. Suicide is the 10th-leading cause of death in Indiana, highlighting the need for mental health support amid the ongoing pandemic challenges.