Duke Energy Sustainable Solutions announces its first wind energy project in Iowa - 207-MW Ledyard Windpower

- Verizon Communications has contracted for 180 MW of the wind energy for 15 years

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Sep 21, 2021, 09:59 ET

CHARLOTTE, N.C., Sept. 21, 2021 /PRNewswire/ -- Duke Energy Sustainable Solutions,* a nonregulated commercial brand of Duke Energy (NYSE: DUK), today announced the construction of the 207-megawatt (MW) Ledyard Windpower project in Kossuth County, Iowa. This will be the company's first renewable energy project in the state.

To support Verizon's net-zero goals, it has entered into a 15-year virtual power purchase agreement (VPPA) for 180 MW of the wind energy generated by Ledyard Windpower.

"We're excited to enter into the Iowa market, a state that has valuable wind resources and is ranked second in wind energy generation," said Chris Fallon, president of Duke Energy Sustainable Solutions. "Ledyard Windpower will not only add cleaner energy and economic value to Kossuth County, but it will also contribute to Duke Energy's goal of reaching 47,000 MW of renewable energy by 2050."

Once in operation, the Ledyard Windpower project will increase Duke Energy Sustainable Solutions' U.S. wind capacity to over 3,100 MW. The site will provide enough renewable energy to power the equivalent of more than 72,450 U.S. homes.

Along with indirect economic benefits that accompany wind project development, such as increased local spending in the service and construction industries, Ledyard Windpower, which is slated to be complete at the end of 2022, will create approximately 200 jobs during peak construction. Additionally, the 12,000 acre agriculture site, which will continue to be used by farmers, will have a positive economic impact on the local community by providing significant local tax revenues during assessment years of commercial operation to the county and local school districts, as well as meaningful payments to participating landowners.

Ledyard Windpower was co-developed by Duke Energy Sustainable Solutions and Amshore Renewable Energy.

Full mobilization of construction for the project began in August 2021 by Wanzek Construction. Vestas will supply 46 Vestas V150 4.5-MW turbines for the project and Duke Energy Sustainable Solutions will perform the site's long-term maintenance and operations.

As one of the nation's top renewable energy providers, this year Duke Energy reached more than 10,000 MW of solar and wind energy, and the company has set a goal of reaching 16,000 MW of renewables by 2025 and 47,000 MW by 2050.

About Duke Energy Sustainable Solutions

Duke Energy Sustainable Solutions is a nonregulated commercial brand of Duke Energy (NYSE: DUK) – a Fortune 150 company and one of the largest energy holding companies in the U.S. – headquartered in Charlotte, N.C.

Duke Energy Sustainable Solutions is a leader in sustainable energy, helping large enterprises reduce power costs, lower emissions, and increase resiliency. The team provides wind, solar, resilient backup power, and managed energy services to over 1,000 projects across the U.S., with a total electric capacity of more than 5,100 megawatts of nonregulated renewable energy. Visit Duke Energy Sustainable Solutions and follow on LinkedIn and YouTube for more information.

Duke Energy is executing an aggressive clean energy strategy to create a smarter energy grid for its customers and communities – with goals of at least a 50% carbon reduction by 2030 and net-zero carbon emissions by 2050. The company is a top U.S. renewable energy provider, on track to own or purchase 16,000 MW of renewable energy capacity by 2025. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.

Cautionary Language Concerning Forward-Looking Statements
This document includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are based on management's beliefs and assumptions. These forward-looking statements are identified by terms and phrases such as "anticipate," "believe," "intend," "estimate," "expect," "continue," "should," "could," "may," "plan," "project," "predict," "will," "potential," "forecast," "target," "outlook," "guidance," and similar expressions. Various factors may cause actual results to be materially different than the suggested outcomes within forward-looking statements; accordingly, there is no assurance that such results will be realized. These risks and uncertainties are identified and discussed in Duke Energy's most recent Annual Report on Form 10-K and subsequent quarterly reports on Form 10-Q filed with the Securities and Exchange Commission ("SEC") and available at the SEC's website at sec.gov. In light of these risks, uncertainties and assumptions, the events described in the forward-looking statements might not occur or might occur to a different extent or at a different time than Duke Energy has described. Duke Energy expressly disclaims an obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

*Duke Energy Sustainable Solutions is a nonregulated commercial brand of Duke Energy Corporation, which includes the following subsidiaries of Duke Energy Corporation that are registered to transact business in various states and may be branded as Duke Energy Sustainable Solutions for marketing purposes: Duke Energy Commercial Enterprises, Inc.; Duke Energy One, Inc.; Duke Energy Renewables, Inc.; Duke Energy Renewables Commercial, LLC; Duke Energy Renewable Services, LLC; Duke Energy Renewables Solar, LLC; Duke Energy Renewables Storage, LLC; Duke Energy Renewables Wind, LLC; and REC Solar Commercial Corporation.

Contact: Jennifer Garber
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SOURCE Duke Energy