Duke Energy transfers half of USD 2m donation to Palmetto Clean Energy

Nov 7, 2012 - US utility Duke Energy Corp (NYSE:DUK) said Tuesday it had transferred 50% of the USD-2-million (EUR 1.6m) donation, aimed at the promotion of the use of renewable energy sources, to South Carolina-based non-profit scheme Palmetto Clean Energy (PaCE).

The remaining USD 1 million of Duke Energy’s contribution will be paid in 2013 as part of the settlement agreement the company signed with the Southern Alliance for Clean Energy (SACE) and the Coastal Conservation League (CCL) within the merger between Duke Energy and Progress Energy (NYSE:PGN) wrapped up in July.

According to Blan Holman, attorney at the Southern Environmental Law Centre, Duke Energy’s contribution will help support renewable energy projects in South Carolina, giving an environment-friendly impulse to the state’s economy.

Holman represented the Environmental Defense Fund, the CCL and SACE in the negotiations with Duke Energy on the PaCE donation

(USD 1 = EUR 0.777)

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