Close Menu
Invest Intellect
    Facebook X (Twitter) Instagram
    Invest Intellect
    Facebook X (Twitter) Instagram Pinterest
    • Home
    • Commodities
    • Cryptocurrency
    • Fintech
    • Investments
    • Precious Metal
    • Property
    • Stock Market
    Invest Intellect
    Home»Commodities»U.S. Department of Energy awards Duke Energy project $57 million in cost-share funding to enhance North Carolina’s energy grid | Duke Energy
    Commodities

    U.S. Department of Energy awards Duke Energy project $57 million in cost-share funding to enhance North Carolina’s energy grid | Duke Energy

    August 6, 20244 Mins Read



    • Grant will help fund 40-mile transmission line rebuild in Wake, Johnston and Wayne counties to improve reliability for an estimated 14,000 customers

    RALEIGH, N.C. – U.S. Secretary of Energy Jennifer Granholm today announced the U.S. Department of Energy (DOE)’s Grid Deployment Office has selected the North Carolina Innovative Transmission Rebuild project to receive $57 million in cost-share funding to enhance the power grid’s ability to deliver affordable, resilient energy. The project – a partnership between Duke Energy, the North Carolina Department of Environmental Quality and State Energy Office – aims to reconstruct the 230-kV Lee-Milburnie transmission line to improve reliability for customers and meet growing electricity demand in eastern North Carolina.

    “The grant announced today by the Department of Energy is a win for the communities Duke Energy serves, and signals North Carolina’s leadership in the energy transition,” said Kendal Bowman, Duke Energy North Carolina state president. “This project will help reduce outages, enhance the power system’s resilience against extreme weather, enable the connection of more clean energy sources to the grid and create job opportunities and new partnerships with community organizations.”

    The Lee-Milburnie transmission line spans from the Greater Raleigh area to outside Goldsboro, N.C., including portions of Wake, Johnston and Wayne counties. The line rebuild will take place in the existing right of way to minimize the impact to nearby communities.

    “Supporting our customers by helping ensure they have reliable service and restoring that service safely and quickly when we need to is our No. 1 job,” said Scott Batson, senior vice president and chief power grid officer at Duke Energy. “The generous grant provided by the U.S. Department of Energy for this transmission line reconstruction work will improve the reliability of the grid while delivering affordable, clean energy to our customers.”

    The funds are part of the Grid Resilience and Innovation Partnerships (GRIP) program, the federal government’s single largest direct investment into critical grid infrastructure. Funded through the Bipartisan Infrastructure Law and administered by DOE’s Grid Deployment Office, the GRIP program leverages federal and private investments to support a reliable grid that is prepared for extreme weather while also delivering affordable, clean energy and creating local economic opportunities.

    “This funding will help support North Carolinians’ efforts to invest in grid resiliency, improve reliability, and meet electricity demand,” said U.S. Secretary of Energy Jennifer M. Granholm. “The Biden-Harris Administration is investing in the most crucial component of the nation’s infrastructure, expanding and hardening the grid to allow more resilient, clean power to reach more household, and support the ongoing manufacturing boom—all while creating thousands of local jobs.”

    This North Carolina Innovative Transmission Rebuild will create robust opportunities for local economic development, including significant investments in workforce development programs at Nash Community College and North Carolina A&T State University.

    “North Carolina A&T State University and STEPs4GROWTH are proud to be partners in developing a skilled workforce in support of Duke Energy’s efforts to deliver reliable, affordable energy to its customers,” said Balu Gokaraju, Ph.D., principal investigator for the STEPs4GROWTH program. “This project represents a significant investment that will not only enhance the grid but also benefit the community by creating good jobs with family sustaining wages.”

    The joint effort will create an estimated 550 new jobs that can be filled through partnerships with historically black colleges and universities (HBCUs) and local community colleges.

    “We have been a proud partner of Duke Energy for many years and are truly excited about this new initiative to enhance power grid reliability in North Carolina,” said Lew K. Hunnicutt, President of Nash Community College. “We look forward to doing our part to support this important project, which will benefit our community through new job opportunities for skilled workers.”

    To learn more, visit the U.S. Department of Energy Grid Deployment Office’s website.

    Duke Energy

    Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of America’s largest energy holding companies. The company’s electric utilities serve 8.4 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and collectively own 54,800 megawatts of energy capacity. Its natural gas utilities serve 1.7 million customers in North Carolina, South Carolina, Tennessee, Ohio and Kentucky.

    Duke Energy is executing an ambitious clean energy transition, keeping reliability, affordability and accessibility at the forefront as the company works toward net-zero methane emissions from its natural gas business by 2030 and net-zero carbon emissions from electricity generation by 2050. The company is investing in major electric grid upgrades and cleaner generation, including expanded energy storage, renewables, natural gas and nuclear.

    More information is available at duke-energy.com and the Duke Energy News Center. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook, and visit illumination for stories about the people and innovations powering our energy transition.

    Contact: Logan Stewart

    24-Hour: 800.559.3853 





    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    Groww IPO to fund expansion into wealth, PMS and commodities

    Commodities

    Shell Renews $3.5 Billion Quarterly Buyback Program as Earnings Rise — Commodities Roundup

    Commodities

    Metal stock zooms 18% even as BSE sheds nearly 600 points, NSE slipped below 25,900

    Commodities

    Trump latest: US president teases ‘large’ energy deal after ’12 out of 10′ Xi meeting – as China makes TikTok statement | World News

    Commodities

    PS5 Pro Adds Frame Rate Option for Metal Gear Solid Delta

    Commodities

    New relief scheme to help 195,000 in energy debt

    Commodities
    Leave A Reply Cancel Reply

    Top Picks
    Investments

    EWIA acquiert SunErgy pour devenir un acteur majeur du solaire en Afrique subsaharienne

    Fintech

    Ixigo Taps Fintech Partnership to Scale Flights Beyond Regional Stronghold

    Precious Metal

    18 Under 18: Leo Silver

    Editors Picks

    Africa’s Most Valuable Fintech Company Flutterwave Processes Approximately KSh 129b

    August 16, 2025

    ‘We’ve had a good afternoon’ – Hugh Bowman edges out Swedish rival to take second Shergar Cup Silver Saddle

    August 9, 2025

    A Balanced Portfolio Always Comes with Regrets

    July 14, 2024

    EIPI: Energy With Juiced Covered Call Yields (NYSEARCA:EIPI)

    August 5, 2024
    What's Hot

    USWNT’s Tierna Davidson proud of her Olympic gold medal

    August 16, 2024

    Stock Market Updates: Sensex Rises Over 450 Points, Nifty Above 25,900; All Nifty Sectors In Green | Markets News

    October 26, 2025

    Rémi Casals se incorpora a First Eagle Investments como director de soluciones patrimoniales internacionales

    May 28, 2025
    Our Picks

    Fintech firm Revolut valued at $45bn in employee share sale | Revolut

    August 16, 2024

    Cenovus Energy raises MEG Energy offer

    October 27, 2025

    West Texas Helios facility leased to Nvidia-backed CrowdWeave

    April 4, 2025
    Weekly Top

    Thawani wins Visa licence to issue credit cards, a first for Oman’s fintech

    October 30, 2025

    New Sanlam Property Impact Fund targets SA’s ‘missing middle’

    October 30, 2025

    Dubai to launch new financial centre powering fintech and digital asset growth

    October 30, 2025
    Editor's Pick

    NOLA Gold falls short in first playoff match against Chicago | More

    July 22, 2024

    Keep Calm And Buy Bitcoin (Cryptocurrency:BTC-USD)

    August 11, 2024

    Bitcoin Wallets And Storage: The Ultimate Guide To Securing Your Cryptocurrency

    August 20, 2025
    © 2025 Invest Intellect
    • Contact us
    • Privacy Policy
    • Terms and Conditions

    Type above and press Enter to search. Press Esc to cancel.