Trending...
- USA Air Management Marks 30 Years of Air Duct Cleaning in NJ Urges Homeowners to Schedule Dryer Vent Cleaning Before Heating Season
- Growth Story Expands: $54.6M Contract, $30M Revenue Run Rate, 800+ Customers, 50+ Patents & New AI Cybersecurity Products for Cycurion, Inc $CYCU
- Sky Quarry Restarts Nevada's Only Crude Oil Refinery — A Major New Chapter Begins in This Highly Lucrative sector for N A S D A Q: SKYQ
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
- Virtually Tour Heritage at South Brunswick's Resort-Style Living - Experience Indoor and Outdoor Amenities at Your Fingertips
- A Dependable Marks 29 Years of Home Remodeling and General Contracting in the Charlotte Region
- Living Waters Inc to Host Mental Health Summit
- Black Diamond Sport & Entertainment Group Signs Defensive End Camar Kyle for Representation
- Derek Cook's Roofing Encourages Homeowners to Prepare for Fall Weather
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.
0 Comments
Latest on ncarol.com
- "Warrior Defined" Event Brings Men Together in Charlotte, With Calls for Events Across the U.S
- NASA Spotlighted the 2026 Harvest Moon. KayeDinero Filmed It Over Asheville
- Dion Abadi Publishes Free Collector Tips Hub for Art and Jewelry Buyers
- Yacht Captain Transforms Life Of Adventure Into A Children's Series Celebrating Courage & Kindness
- Harvest Moon Meets Saturn Over Asheville Tonight. KayeDinero Plans to Film the Blue Ridge
- World-Renowned Body Language Expert Mark Bowden Headlines INSPIRE Northwest 2026 in Wenatchee, WA
- ASN Software Introduces New California CARS Act Dealer Updates
- USA Air Management Marks 30 Years of Air Duct Cleaning in NJ Urges Homeowners to Schedule Dryer Vent Cleaning Before Heating Season
- Dr. Jay Johannigman Returns to Cincinnati Following 46 Years of Military Service
- Allstream Energy Partners, SEO Experts in Oil and Gas, Awarded Gas Processing OEM Agreement
- Miley Is Going by One Name. KayeDinero Just Put Her Birth Name in a Song
- Growth Story Expands: $54.6M Contract, $30M Revenue Run Rate, 800+ Customers, 50+ Patents & New AI Cybersecurity Products for Cycurion, Inc $CYCU
- Sky Quarry Restarts Nevada's Only Crude Oil Refinery — A Major New Chapter Begins in This Highly Lucrative sector for N A S D A Q: SKYQ
- Nutriband Inc. (N A S D A Q: NTRB) Breaks Into Uncharted Territory: 52-Week High Eclipsed as Shares Surge 22% —AVERSA™ Puts Investors on High Alert
- TikTok's Song of Summer Is 15 Years Old. KayeDinero Is Betting on Memory Too
- Jacqui Condon Selected to Workers' Compensation Panels for Three Professional Athlete Associations
- Google Mixed Up KayeDinero and Kayla Dinero. KayeDinero Brought Visual Receipts
- New Metallized PE Film from Pregis Brings Recyclability to High-Barrier Food Packaging at Pack Expo International in Chicago
- Drake Brings Jimmy Brooks Back as KayeDinero Turns Banks Ave Into a Nighttime Visual
- Transformational $104 Million Musculoskeletal Healthcare Opportunity as Expansion Strategy Accelerates for Cardiff Lexington Corp (Stock Symbol: CDIX)