Just as US Franchised Electric & Gas CEO James Turner abruptly steps down, Duke plans to reinvest in wind energy
Duke Energy continues to work on renewable power, securing roughly $231 million in non-recourse credit facilities as they continue ownership in the Top of the World Windpower Project operations in Casper, Wyoming. Duke Energy Generation Services (DEGS) is the unit that develops the renewable power assests from Duke Energy, with recent numbers indicating an 18 year term loan.
Duke Energy's current renewable energy project is Top of the World, a wind farm that includes 66 General Electric wind turbines - each of which can produce 1.5 MW - and 44 Siemens turbines - each producing 2.3 MW. The project was installed in October 2010 when the company sold a 20 year power purchase agreement with PacifiCorp.
"We've spent more than $1.5 billion to grow our commercial wind power business over the last three years, and financing the Top of the World Windpower Project will help fuel additional investments in renewable energy," said Keith Trent, group executive and president of Duke Energy's Commercial Businesses.
"Our strong financial position and track record in developing power generation projects make Duke Energy an attractive partner for banks," said Senior Vice President and Treasurer Stephen De May. "We'll continue to explore opportunities to finance our commercial renewable energy business and accelerate growth."
While they remain highly developed in the renewable energy sector, it seems things within the personal sector have taken a downturn. Yesterday James L. Turner, group executive, president and CEO of the US Franchised Electric & Gas business, abruptly stepped down. The resignation came just as it was exposed that the figure-head was conducting illegal relations the former chairman of the Indiana Utility Regulatory Commission, David Lott Hardy.
The hundreds of emails were published in the Indianapolis Star and revealed the spark as Duke Energy began building a $2.9 billion coal-gasification plant in Edwardsport, Indiana.