Duke Energy to give $2 million to Palmetto Clean Energy (PaCE)

Duke Energy to give $2 million to Palmetto Clean Energy (PaCE)

2012-11-06 10:57 ET - News Release

CHARLOTTE, N.C., Nov. 6, 2012 /PRNewswire/ -- As part of its continuing commitment to the communities it serves, Duke Energy has given the first half of a $2 million contribution to Palmetto Clean Energy (PaCE), a South Carolina non-profit program designed to improve the quality of the environment by promoting the development of renewable energy resources, such as solar, wind and water.

"Spearheading the advancement of technologies that promote the generation of electric energy through environmentally friendly, renewable resources in South Carolina is important to Duke Energy," said Clark Gillespy, Duke Energy state president – South Carolina. "Our ongoing partnership with PaCE and this contribution highlight our commitment to these efforts."

"We are pleased to receive this significant donation," said Robert Long, chairman of the PaCE board of directors. "Gifts such as this play a vital role in helping us expand renewable energy responsibly in South Carolina. Without this gift or the financial support that PaCE receives from its other generous donors, PaCE would not be able to achieve its goals of encouraging and supporting renewable energy in South Carolina."

The $1 million contributed by Duke Energy will be followed by an additional $1 million in 2013 and is part of a settlement agreement reached with the Southern Alliance for Clean Energy (SACE) and the Coastal Conservation League (CCL) as part of the Duke Energy-Progress Energy merger.

"Dollars contributed to PaCE will support renewable energy produced right here in South Carolina, giving a boost to our state's economy while protecting our environment. That's why we worked hard to secure this commitment from Duke Energy," said Blan Holman, attorney at the Southern Environmental Law Center, who represented Environmental Defense Fund, the CCL and SACE in negotiating Duke Energy's contribution to PaCE.

Renewable energy is electricity produced from resources such as the sun, wind, water, waste and other sources and is an important part of Duke Energy's efforts to reduce its carbon footprint and promote energy security. Renewable generation is an essential part of the solution to a clean, reliable and affordable energy future.

Duke Energy is working to help the renewable energy industry grow, while ensuring that electricity remains reliable and affordable for the millions of households and businesses that depend on the company and its utilities.

Customers interested in making contributions to PaCE or becoming a renewable generator for PaCE should contact: http://www.palmettocleanenergy.org/.

Duke Energy (NYSE: DUK) is the largest electric power holding company in the United States with more than $100 billion in total assets. Its regulated utility operations serve approximately 7.1 million electric customers located in six states in the Southeast and Midwest. Its commercial power and international business segments own and operate diverse power generation assets in North America and Latin America, including a growing portfolio of renewable energy assets in the United States.

Headquartered in Charlotte, N.C., Duke Energy is a Fortune 250 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at: www.duke-energy.com.