Duke Energy, a key player in the energy sector, has announced a call for proposals aimed at acquiring new and varied power generation resources to cater to its customer base in Indiana. The move comes as part of the company’s ongoing efforts to transition towards cleaner energy sources.
Stan Pinegar, President of Duke Energy Indiana, emphasized the importance of this initiative, stating, “As we continue to transition to cleaner energy, we survey the markets for a diverse range of power generation resources.”
The company’s plan involves sourcing up to 2,500 megawatts each of intermittent and non-intermittent generation. The former focuses on renewable energy sources like solar, wind, or other commercially feasible technologies, including combinations with battery storage. The latter seeks electric generation that can be dispatched on demand, such as natural gas combustion turbines, combined cycle units, and standalone battery storage.
Key details of the proposal include consideration for various resource locations, with a preference for resources deliverable to MISO (Midcontinent Independent System Operator) Zone 6. It allows for existing or proposed resources with an in-service date no later than December 31, 2032.
The request invites proposals in the form of purchase power agreements, projects developed by third parties and transferred to Duke Energy, or purchases of existing facilities. Interested parties can find more details and submit questions through the official webpage at deirfp.com.
To ensure fairness, Duke Energy will employ an independent third-party administrator, Charles River Associates, to oversee the proposal process. Selected projects will be subject to approval by the Indiana Utility Regulatory Commission.
Proposals for intermittent generation are due by February 9, 2024, while the deadline for non-intermittent generation proposals is February 23, 2024.
Duke Energy Indiana, a subsidiary of Duke Energy, currently serves approximately 890,000 customers across a 23,000-square-mile service area, providing around 6,300 megawatts of owned electric capacity, solidifying its position as Indiana’s largest electric supplier.
Duke Energy, a Fortune 150 company headquartered in Charlotte, N.C., serves 8.2 million customers across several states and collectively owns 50,000 megawatts of energy capacity. The company’s commitment to an aggressive clean energy transition includes targets for net-zero methane emissions from its natural gas business by 2030 and net-zero carbon emissions from electricity generation by 2050.