DOE Grants Boost Duke Energy Funding to Nearly $96M for Plant Refurbishments
DUK•U.S. Department of Energy selected Duke Energy for $61.8 million in grants to support reliability and refurbishment projects at East Bend Station in Kentucky ($33.4M) and Roxboro Station units 2 and 3 in North Carolina ($28.4M). Combined with a prior $34M award, federal support now totals nearly $96M for these plants.
1. DOE Grant Allocations
The U.S. Department of Energy has selected Duke Energy for up to $61.8 million in federal grants to support reliability and refurbishment projects at two coal-fired plants. Funding negotiations will finalize allocations of $33.4 million for East Bend Station in Kentucky and $28.4 million for Roxboro Station units 2 and 3 in North Carolina.
2. Plant Upgrade Plans and Customer Benefits
Upgrades will focus on critical components to maintain operational reliability and meet growing energy demand across Duke’s service areas. Federal support reduces project costs, helping limit capital expenditures that would otherwise impact customer rates.
3. Broader Cost-Saving Initiatives
These grants join a prior $34 million award, bringing total DOE funding for these sites to nearly $96 million. They complement Duke Energy’s broader initiatives that include more than $5 billion in customer savings through utility combinations, tax credit monetization and rate reductions.
