DUKE ENERGY CORPORATION

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Duke Energy : Major milestones drive Duke Energy Florida's commitment to a cleaner, smarter energy future just in time for Earth Day

04/22/2022 | 09:38am EDT
  • Statewide $2 billion solar investment.

  • Three of six energy storage sites completed.

  • More than 600 electric vehicle chargers installed.

  • 250,000 extended power outages avoided thanks to smart, self-optimizing grid technology.

ST. PETERSBURG, Fla. - Duke Energy Florida is celebrating Earth Day by sharing key milestones as part of its clean energy transformation and commitment to the environment, customer affordability and reliability.

"As the energy needs of customers and communities in our state change, we must be ready to meet those needs," said Melissa Seixas, Duke Energy Florida state president. "We believe generating electricity from renewable resources and expanding innovative technologies will play an important role in delivering energy that's reliable, affordable and increasingly clean."

In Florida, Duke Energy continues to execute its strategy on renewables, electric vehicles (EVs) and grid investments to benefit customers.

Solar generation commitment

With a combined investment of more than $2 billion, Duke Energy Florida's solar generation portfolio will include 25 grid-tied solar power plants, which will benefit all Florida customers and will provide about 1,500 megawatts (MW) of emission-free generation and approximately 5 million solar panels in the ground by 2024.

The company is well on its way to a major milestone by placing its 17th solar project in operation by the end of 2022.

The first 10 large projects are projected to lower the emission of global warming gases such as CO2 at an average rate of over 700,000 tons per year, based on the equivalent reduction in generation from fossil fuels.

Additionally, Duke Energy Florida leads the state in the amount of customer-owned or leased renewable interconnections, which includes processing more than 1,300 customer applications per month.

Duke Energy Florida currently has over 400 MW and more than 46,000 customers with solar generation at their home or business that are relying on the power grid.

Battery energy storage systems

Duke Energy's battery energy storage plays a significant and evolving role in how electricity is delivered to customers now and in the future. Through energy storage and microgrids, the company can enable the integration of more renewables onto the grid and help improve reliability and security while keeping costs as low as possible for customers.

Earlier this month, Duke Energy Florida announced the completion of three battery projects in Gilchrist, Gulf and Highlands counties. The new sites are part of Duke Energy's commitment to have six battery sites, totaling 50 MW, operating in Florida this year.

Electric vehicle (EV) charging

In addition to expanding its battery storage technology and solar investments, Duke Energy Florida is investing in transportation electrification to support the growing U.S. adoption of EVs through the addition of 627 EV charging stations, including 52 DC fast chargers (the fastest EV charging option available) and a modernized power grid to deliver diverse and reliable energy solutions to best serve our customers.

To find EV chargers near you, visit the Greenlots app.

Grid improvements

Duke Energy Florida is committed to building a stronger, better protected and smarter electric infrastructure that is more resistant to disruptions from severe weather, as well as physical and cyber threats. The company continues to invest in enhancements such as self-optimizing grid technology, utility pole and power line upgrades, and targeted undergrounding of outage-prone power lines to reduce power outage frequency and duration during extreme weather events and to enhance overall reliability.

In 2021, smart, self-optimizing grid technology in Florida helped avoid more than 250,000 extended customer power outages and saved more than 283,000 hours of total lost outage time.

Learn more about these programs at https://www.duke-energy.com/our-company/florida-future.

Duke Energy Florida

Duke Energy Florida, a subsidiary of Duke Energy, owns 10,300 megawatts of energy capacity, supplying electricity to 1.9 million residential, commercial and industrial customers across a 13,000-square-mile service area in Florida.

Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of America's largest energy holding companies. Its electric utilities serve 8.2 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and collectively own 50,000 megawatts of energy capacity. Its natural gas unit serves 1.6 million customers in North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The company employs 28,000 people.

Duke Energy is executing an aggressive clean energy transition to achieve its goals of net-zero methane emissions from its natural gas business and at least a 50% carbon reduction from electric generation by 2030 and net-zero carbon emissions by 2050. The 2050 net-zero goals also include Scope 2 and certain Scope 3 emissions. In addition, the company is investing in major electric grid enhancements and energy storage, and exploring zero-emission power generation technologies such as hydrogen and advanced nuclear.

Duke Energy was named to Fortune's 2022 "World's Most Admired Companies" list and Forbes' "America's Best Employers" list. More information is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos and videos. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.

Media contact: Audrey Stasko
Cell: 315.877.3031
Media line: 800.559.3853

Disclaimer

Duke Energy Corporation published this content on 22 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 April 2022 13:37:03 UTC.


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Financials (USD)
Sales 2022 26 585 M - -
Net income 2022 4 126 M - -
Net Debt 2022 70 974 M - -
P/E ratio 2022 19,4x
Yield 2022 3,83%
Capitalization 80 478 M 80 478 M -
EV / Sales 2022 5,70x
EV / Sales 2023 5,74x
Nbr of Employees 27 605
Free-Float 95,0%
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Lynn J. Good Chairman, President & Chief Executive Officer
Steven K. Young Chief Financial Officer & Executive Vice President
Bonnie Titone Chief Information Officer
Dhiaa M. Jamil Chief Operating Officer & Executive Vice President
Melissa Feldmeier Chief Ethics & Compliance Officer, Vice President
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