DUKE ENERGY CORPORATION

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Delayed Nyse  -  04:04 2022-06-30 pm EDT
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Duke Energy : announces investment in two new renewable natural gas projects in North Carolina

04/27/2022 | 10:25am EDT
  • Renewable natural gas will be sourced from methane at landfills in Caldwell, Person counties.

  • Projects to be developed by Evensol LLC; designed, built, operated by Energyneering Solutions LLC.

CHARLOTTE, N.C. - Duke Energy (NYSE: DUK) today announced its investment in two projects to convert landfill gas from two North Carolina landfills into renewable natural gas (RNG).

The two projects, named Foothills Renewables and Upper Piedmont Renewables, will be located in Caldwell County and Person County, respectively.

Renewable natural gas is derived from the methane contained in landfill gas resulting from the breakdown of organic waste, which is processed to remove contaminants in order to meet natural gas pipeline quality standards.

Each project is projected to produce roughly 500,000 dekatherms (Dth) of renewable natural gas each year. The combined 1 million Dth is equivalent to the average annual natural gas usage of nearly 17,000 residential customers in North Carolina.

Both landfill projects are being developed by Evensol LLC, which develops and acquires renewable fuels-based assets in the biomass, biogas and biofuels sectors. Energyneering Solutions LLC, which specializes in the design, construction and operation of biogas utilization projects, will build and operate the facilities.

"We're excited for the Foothills and Upper Piedmont projects to join our growing portfolio of renewable natural gas investments," said Phillip Grigsby, Duke Energy's senior vice president of ventures and business development. "Duke Energy is proud to be an industry leader in the RNG space as we continue our journey toward a cleaner energy future.

"Duke Energy is committed to supporting sustainable energy solutions. Not only will these projects bring more renewable natural gas into the market, they'll also enhance sustainability in North Carolina, ultimately benefitting both the environment and energy customers," Grigsby said.

"We are very fortunate to have Duke Energy as our strategic partner in the development and ownership of these important NC-based RNG facilities," said David Wentworth, president & CEO of Evensol LLC. "Duke's stated commitment to sustainability is clearly evidenced by its investment in these projects, which will create real environmental benefits for the citizens of North Carolina".

While some of the RNG produced by the two projects will be transported by infrastructure owned and operated by Duke Energy's Piedmont Natural Gas unit, the RNG will be sold to third-party customers and will not be purchased or used by Duke Energy.

The landfill projects are already under construction and are expected to be operational in the fourth quarter of 2022.

Duke Energy

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: Jason Wheatley
800.559.3853

Disclaimer

Duke Energy Corporation published this content on 27 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 April 2022 14:24:06 UTC.


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Net income 2022 4 126 M - -
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