Wednesday 29 April 2020

Duke Energy to double its renewable energy portfolio

Duke Energy has unveiled its plans to double its renewable energy portfolio by releasing the annual sustainability and climate reports.

The utility giant intends to increase its portfolio within five years, establishing a goal of 16,000MW by the end of 2025. In 2019, the company owned, operated and contracted over 8,000MW of capacity.

Additionally, the company has shared it has lowered carbon dioxide emissions by 39% below 2005 levels, which is 8% lower than last year's mark of 31%.

In this way, the report suggests the firm is on track to achieve its 2030 goal of reducing carbon dioxide emissions from electricity generation by at least 50% from 2005 levels.

Lynn Good, Duke Energy’s Chair, President and CEO, said: "Our commitment to Environmental, Social and Governance (ESG) has delivered strong results for our customers and our shareholders and we’re focused on maintaining this level of performance and transparency as we work to achieve net zero carbon emissions by 2050.

"These two reports showcase the significant progress we’ve made in these areas, and our plan to help address the challenges from climate change."