DTE Energy replacing coal with cleaner energy

Michigan's DTE Energy (NYSE:DTE) will replace most of its coal-fired units with cleaner sources, including wind and solar.

The company said on Wednesday it will retire eight coal generators at three plants within the next seven years. The announcement means DTE Energy will have retired 11 of its 17 coal units by 2023. It closed three units earlier this year due to age and future cost expectations.

"We will replace 11 aging coal-fired generating units at three facilities built in the 1950s and 1960s with a mix of newer, more modern and cleaner sources of energy generation such as wind, natural gas and solar," said DTE chairman and chief executive Gerry Anderson.

The three plants slated for closure made up about 25% of DTE's electricity generation in 2015, enough to power 900,000 homes.

DTE said it has already built a renewable energy portfolio that now accounts for 10% of its overall sales and provides enough electricity to power over 400,000 homes.

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