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Duke to give $2M to Palmetto Clean Energy

Staff Report
Published Nov. 6, 2012

Duke Energy has given the first half of a $2 million contribution to Palmetto Clean Energy to develop energy resources.

A South Carolina nonprofit program, Palmetto Clean Energy aims to improve the environment by promoting the development of renewable energy resources, such as solar, wind and water.

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

“Dollars contributed to PaCE (Palmetto Clean Energy) 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, in a news release.

Holman represented the Environmental Defense Fund, the Coastal Conservation League and Southern Alliance for Clean Energy in negotiating Duke Energy’s contribution to Palmetto Clean Energy.

Renewable energy is electricity produced from resources such as the sun, wind, water, waste and other sources. Duke Energy works to promote renewable energy and reduce its carbon footprint, according to a company new release.

“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,” Duke Energy S.C. President Clark Gillespy said in a news release.

Duke Energy, an electric power holding company, serves 7.1 million electric customers 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, Duke Energy is traded on the New York Stock Exchange as “DUK.”

Previous coverage

Duke Endowment building new HQ
Duke, Progress to seek rate hikes in S.C.
Shaw to lead Duke Endowment board
Duke seeks rate cut, faces investigation
Duke Endowment gives $2.2M in local grants
Regulators OK Duke-Progress merger
Duke Energy names Gillespy South Carolina president