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$1-Billion Utility Green Bond to Fund Solar, Storage in North and South Carolina

A US$1-billion green bond issued by Duke Energy Carolinas, a subsidiary of utility giant Duke Energy, will finance a series of solar, storage, and other clean energy projects across two U.S. states that were temporarily turned into an archipelago when Hurricane Florence hit earlier this fall.

“Over the last decade, Duke Energy Carolinas has retired older coal-generating plants, increased nuclear generation capacity, and added roughly 650 MW of built or purchased solar capacity,” PV-Tech reports. Now, “the company anticipates adding 1.8 GW of solar capacity over the next five years.

“We are proud to provide this option for investors to advance our goal of reducing carbon emissions by 40% by 2030,” said Duke Energy Executive VP and CFO Steve Young. “Investors are increasingly interested in clean and renewable energy, and now we can partner together to transform our energy future in the Carolinas”

In October, Duke Energy unveiled a plan to deliver 150 MW of new renewables to commercial and industrial customers in South Carolina.