Trending...
- Constantine "Costa" Kapothanasis II Acquires The Lubri-Loy Company, Carrying a 77-Year-Old American Lubricant Brand Into Its Next Era
- LS2 Partners with Angels Of Dirt's "Next Chapter Racer" Series Celebrating Women and Girls in Motorsports
- Creole101 Launches Multilingual Dictionary App with 50,000+ Entries, Vocabulary Games and Haitian Cultural Resources
CHARLOTTE, N.C., April 4, 2024 ~ Charlotte, N.C. - Duke Energy (NYSE: DUK) has announced today that it has reached an agreement to sell its 50% ownership interest in Pioneer Transmission LLC (Pioneer) to John Laing Group (John Laing), an international investor and active manager of core infrastructure assets.
Pioneer, a joint venture with American Electric Power (AEP), is a 42.5-mile, 765-kilovolt transmission line with its associated substation assets. The line was placed in service in 2018 and extends from Greentown Station to Reynolds Station – west of Lafayette, Ind. Pioneer is independent of Duke Energy Indiana.
The sale of Duke Energy's ownership interest in Pioneer will allow the company to focus on its clean energy transition in its state-regulated utilities. The proceeds from the sale will be reinvested into major electric grid upgrades and cleaner generation, including expanded energy storage, renewables, natural gas and advanced nuclear.
The transaction is expected to close by the end of 2024 and is subject to customary closing conditions, including approvals from the Federal Energy Regulatory Commission and Indiana Utility Regulatory Commission.
More on ncarol.com
BMO Capital Markets is serving as financial advisor to Duke Energy for this transaction while Holland & Hart LLP is serving as legal counsel.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of America's largest energy holding companies. With electric utilities serving 8.4 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky and a natural gas unit serving 1.7 million customers in North Carolina, South Carolina, Tennessee, Ohio and Kentucky, Duke Energy collectively owns 54,800 megawatts of energy capacity.
As part of its commitment to a clean energy future, Duke Energy is working towards net-zero methane emissions from its natural gas business by 2030 and net-zero carbon emissions from electricity generation by 2050. The company is investing in major electric grid upgrades and cleaner generation, including expanded energy storage, renewables, natural gas and advanced nuclear.
For more information about Duke Energy and its clean energy transition, visit duke-energy.com and the Duke Energy News Center. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook, and visit illumination for stories about the people and innovations powering our energy transition.
This document includes forward-looking information.
Pioneer, a joint venture with American Electric Power (AEP), is a 42.5-mile, 765-kilovolt transmission line with its associated substation assets. The line was placed in service in 2018 and extends from Greentown Station to Reynolds Station – west of Lafayette, Ind. Pioneer is independent of Duke Energy Indiana.
The sale of Duke Energy's ownership interest in Pioneer will allow the company to focus on its clean energy transition in its state-regulated utilities. The proceeds from the sale will be reinvested into major electric grid upgrades and cleaner generation, including expanded energy storage, renewables, natural gas and advanced nuclear.
The transaction is expected to close by the end of 2024 and is subject to customary closing conditions, including approvals from the Federal Energy Regulatory Commission and Indiana Utility Regulatory Commission.
More on ncarol.com
- Alvear Homes Releases Free Guide to Mecklenburg County's 2027 Property Revaluation
- Renew Integrative Health Publishes Updated Peptide Therapy Guide to Help Patients Understand Their Options
- AI Agents Are Getting Their Own Computers. HRTech Leading in Vertical Harness Development
- UK Financial Ltd Announces Two-for-One Upgrade of Maya 3 to Maya 3G Token Using Chainlink Cross-Chain Technology
- Clever Solutions Develops PR Strategies for Visibility in AI-Powered Search
BMO Capital Markets is serving as financial advisor to Duke Energy for this transaction while Holland & Hart LLP is serving as legal counsel.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of America's largest energy holding companies. With electric utilities serving 8.4 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky and a natural gas unit serving 1.7 million customers in North Carolina, South Carolina, Tennessee, Ohio and Kentucky, Duke Energy collectively owns 54,800 megawatts of energy capacity.
As part of its commitment to a clean energy future, Duke Energy is working towards net-zero methane emissions from its natural gas business by 2030 and net-zero carbon emissions from electricity generation by 2050. The company is investing in major electric grid upgrades and cleaner generation, including expanded energy storage, renewables, natural gas and advanced nuclear.
For more information about Duke Energy and its clean energy transition, visit duke-energy.com and the Duke Energy News Center. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook, and visit illumination for stories about the people and innovations powering our energy transition.
This document includes forward-looking information.
Filed Under: Business
0 Comments
Latest on ncarol.com
- Renkeer Water Quality Sensors Support Efficient Operation of AI Liquid Cooling Systems
- Victor Archibong Expands ItsArchiDuh Creator Brand
- ACHC International Hospital Standards Earn ISQua EEA Accreditation
- Parade of Homes Winners Announced
- ClearSight Therapeutics Receives U.S. Patent Notice of Allowance
- Revinate launches hospitality's first data activation platform
- HLN Consulting Names Lilly Kan as Its First Chief Executive Officer
- BitTitan Accelerates Large-Scale Document Migrations with MigrationWiz
- Clearnetworx Deploys netElastic vBNG, CGNAT And netVision To Power Fiber Expansion Across Colorado's Western Slope
- Creole101 Launches Multilingual Dictionary App with 50,000+ Entries, Vocabulary Games and Haitian Cultural Resources
- Hilton Waikiki Beach Resort & Spa Introduces Level 37 Sky Lounge by Casamigos
- Self-Published Dad's Santa Book Finally Found After 3 Years on Amazon
- Meta Partnership Expanding as Omni One Orders Surge 3X -New Consumer Bundles, Defense Opportunities & AI Robotics: Virtuix Holdings: N A S D A Q: VTIX
- Citizens for West Virginia Election Integrity Urges "FOR" on Amendment 1
- Vegan Kingz Expands Direct-Import Wholesale Lineup to Help Commercial Kitchens Cut Ingredient Costs
- Acuvance Survey Finds ERP Integration Remains a Key Challenge as Healthcare Organizations Prepare for AI
- Everything Policy Unveils Their Classroom Resources Behind Every Policy Topic
- Constantine "Costa" Kapothanasis II Acquires The Lubri-Loy Company, Carrying a 77-Year-Old American Lubricant Brand Into Its Next Era
- LS2 Partners with Angels Of Dirt's "Next Chapter Racer" Series Celebrating Women and Girls in Motorsports
- Danish company biosuite introduces biotech procurement software to track outsourced R&D commitments