Trending...
- Renew Integrative Health Publishes Updated Peptide Therapy Guide to Help Patients Understand Their Options
- UK Financial Ltd Announces Two-for-One Upgrade of Maya 3 to Maya 3G Token Using Chainlink Cross-Chain Technology
- Air Force Veteran Sean Douglas Delivers Powerful Suicide Prevention Presentations to Hundreds of Marines at Camp Pendleton
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
- Navigating a Changing Market: How AIX Group Is Responding to a Challenging Year
- 450 Million Revenue Run Rate, Global Telecom Reach and a New Digital Growth Opportunity Take Center Stage: IQSTEL, Inc. (N A S D A Q: IQST)
- Wave Helicopters Takes FLIBS 2026 to New Heights
- Canada's First Data Lakehouse Goes Global in Banking: Nabil Bank Becomes Nepal's First Bank to Implement a True Agentic Lakehouse Platform, DataNature
- VINCE Lifestyle Magazine Launches Membership Drive to Support and Empower Adults 40+
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
- Sycamore Dove Releases "Loving Every Moment"
- Hospital Direct Medical Equipment Company Seeing Growth in Used Refurbished Medical Equipment Sales
- Scoop Social Co. Brings Its Signature Mobile Dessert Experience to Nashville
- Soft & Sweet Unveils New Studio Location and Website for All-Natural Sugaring in Las Vegas
- Beyond Popularity Rankings, The World's No.1 Superstar® Wins Best Pop Music Video for "Under Your Spell"
- Simpalm Staffing Launches Tax Preparer Staffing for U.S. CPA Firms
- ASSIST Software Wins Volkswagen Challenge for Automated Quality Inspection
- National Literacy and Workforce Readiness Crisis Sparks New Program Launching in Birmingham
- New England Consulting Partners Celebrates 25 Years of Turnaround Management Solutions
- RAS AP Consulting Releases Educational Resource to Help Organizations Prepare for IRS FIRE-to-IRIS Transition
- Roots, Rhythm & Joy Invites Neighbors to Find Community Through Music
- Former Goddard Enterprises Managing Director Anthony Ali Joins STS Capital Partners as Managing Director and Partner
- Disney Streamer Network Establishes Creator Code of Conduct
- Heritage at Manalapan Announces Limited-Time Mortgage Rate Buydown on Select Quick Move-In Homes
- Good Organics Now at Pop Up Grocer NYC With October 30 Sampling Event
- KeysCaribbean Announces Temporarily Reduced Rates At Village at Hawks Cay Villas
- Commercial Manufacturing Validation Completed as November 10 FDA Milestone Approaches; Critical FDA Milestone Close: NRx Pharmaceuticals NAS DAQ: NRXP
- Electives Launches "Electives for Everyone," Making Live Expert-Led Learning Available to Every Employee
- Tax Tops the List as Wealthy Brits Plan Their Exit, La Vida Survey Finds
- KayeDinero Drops "CyberLeek" Amid GTA VI Headlines, Unveils Asheville "Barksdale" Visual