Duke Energy, the largest electric power holding company in the United States, has contributed $2 million to Palmetto Clean Energy (PaCE), a South Carolina non-profit program which is designed to improve the quality of the environment by promoting development of renewable energy sources.
“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.”
Duke Energy has made a commitment for a total of $2 million. The $1 million contributed by Duke Energy to PaCE in 2012 will be followed by an additional $1 million in 2013 which is a 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. It shows the determination of Duke Energy in promoting renewable energy and reducing its carbon footprint.
“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 the Environmental Defense Fund, the CCL, and SACE in negotiating Duke Energy’s contribution to PaCE.
Duke Energy utility operations serve approximately 7.1 million electric customers located in six states in the Southeast and Midwest of United States. It owns and operates power generation assets in commercial and international business segments in North America and Latin America. It is also foraying into the renewable energy assets in the United States.
Image Credit: PaCE
Mridul Chadha currently works as Head-News & Data at Climate Connect Limited, a market research and analytics firm in the renewable energy and carbon markets domain. He earned his Master’s in Technology degree from The Energy & Resources Institute in Renewable Energy Engineering and Management. He also has a bachelor’s degree in Environmental Engineering. Mridul has a keen interest in renewable energy sector in India and emerging carbon markets like China and Australia.