Showing posts with label Duke Energy. Show all posts
Showing posts with label Duke Energy. Show all posts

Tuesday, September 9, 2014

Virginia Leaders Tout Economic Benefits of Proposed Atlantic Coast Pipeline

English: The Brayton Point Power Station (Domi...
 (Photo credit: Wikipedia)
Virginia elected officials, business leaders and advocates from across the Commonwealth released the following statements today following an announcement by Governor Terry McAuliffe, Dominion Resources and AGL Resources about the economic benefits of the proposed Atlantic Coast Pipeline.

In an earlier press release, Dominion, AGL Resources, Duke Energy, and Piedmont Natural Resources announced a joint venture to build a major natural gas pipeline, an energy superhighway, through parts of Virginia, West Virginia, and North Carolina. Construction of the pipeline will create 8,800 jobs, produce $1.42 billion in economic activity in the Commonwealth and generate $14.6 million.

After completion, the project will support 118 jobs per year, produce 37.8 million per year in ongoing economic activity and generate $233,000 in additional annual state tax revenue.

Senator John Cosgrove, Chesapeake:

“This project will bring clean, affordable and abundant energy to communities across Virginia, including Hampton Roads. I am eager to work with Governor McAuliffe, Dominion and AGL to see this project completed safely and responsibly, and to begin to realize the enormous jobs and economic growth potential that the Atlantic Coast Pipeline offers our great Commonwealth.”

Senator Louise Lucas, Portsmouth:
“Governor McAuliffe continues to deliver on his promise of bringing new, good jobs to communities across the Commonwealth. I am confident that this project can be completed in an environmentally safe manner that respects local concerns, and that all Virginians will benefit from the lasting jobs and economic impacts that it will bring to our Commonwealth.”

Delegate Mark Sickles, Fairfax:
“Good family-wage construction jobs in the short term will lead to lower heating bills, a reduced carbon footprint and permanent manufacturing jobs in the long term--another huge advance in Governor McAuliffe's mission to diversify the Commonwealth's economy.  Congratulations to all who worked so hard to win against four competing alternatives and good luck in the days and months ahead as decisions are made to make the underground natural gas pipeline a reality.”

Delegate Lionell Spruill, Chesapeake:
“I applaud Governor McAuliffe’s goal of making Virginia the manufacturing hub of the Mid-Atlantic, and for pledging to leverage the Atlantic Coast Pipeline to achieve it. Growing our economy in the face of federal cuts will require bringing new industries here, and this pipeline will be an outstanding asset as we work to bring manufacturers here who need access to clean and abundant natural gas.”

Delegate Roslyn Tyler, Sussex:
“The Atlantic Coast pipeline has the potential to create thousands of good jobs across the Commonwealth, including in Southside rural communities that need them. I am thrilled that this project will help all of us work together to build a new Virginia economy, while expanding our use of natural gas, which has half the carbon emissions of coal.  I look forward to working with Governor McAuliffe and these companies to realize the promise this project has to offer for our region.”

Doris Crouse-Mays, President, Virginia AFL-CIO:
“This new project and the real long and short-term economic benefits it will bring fit perfectly with Governor McAuliffe’s plan to build a new Virginia economy. We look forward to working with him and these companies to help get the Atlantic Pipeline built safely and responsibly, and attract the next generation of Virginia job creators who will benefit from its operation here in Virginia.”

Barry DuVal, President and CEO, Virginia Chamber of Commerce:
“Today’s announcement will improve Virginia’s economic competitiveness in the global marketplace and help diversify our economy. The new abundance of natural gas will empower Virginia businesses to expand as well as help recruit new businesses and manufacturers to the Commonwealth.”

Chris Saxman, Executive Director, Virginia Foundation for Research and Economic Education (FREE)
“The Atlantic Coast Pipeline will create thousands of jobs, bring new businesses to communities across the Commonwealth, and expand our economy’s use of clean, abundant natural gas. I applaud Governor McAuliffe, Dominion Resources, and AGL Resources for working to bring this transformational project to Virginia.”

Brett A. Vassey, President and CEO, Virginia Manufacturers Association:
"The VMA supports Dominion Resources and AGL's pursuit of environmental excellence and public safety with this new pipeline. This fuel and critical infrastructure will help rebuild US manufacturing competitiveness and spark the development of Virginia's Port Zone." 



Governor McAuliffe, Dominion Resources and AGL Resources Announce Economic Benefits of Atlantic Coast Pipeline to Virginia

McAuliffe speaking at Frying Pan Park in Hernd...
(Photo credit: Wikipedia)
RICHMOND -  At a press conference in Richmond, Governor Terry McAuliffe, Dominion Resources CEO Tom Farrell and Hank Linginfelter, EVP Distribution Operations, AGL Resources and Chairman, Virginia Natural Gas, announced the considerable economic benefits that the proposed Atlantic Coast natural gas pipeline will bring to the Commonwealth of Virginia.

In an earlier press release today, Dominion, AGL Resources, Duke Energy, and Piedmont Natural Resources announced a joint venture to build a major natural gas pipeline, an energy superhighway, through parts of Virginia, West Virginia, and North Carolina.

A study by the independent firm Chmura Economics and Analytics found that the pipeline’s construction would:
·       Produce approximately $1.42 billion in economic activity in the Commonwealth.
·       Support more than 8,800 new Virginia jobs, including nearly 5,000 directly supported by spending on construction activities.
·       Generate more than $14.6 million in additional tax revenues for the Commonwealth, including individual income and corporate tax revenues.
·       Once construction is complete, the pipeline would generate a total of 37.8 million per year in ongoing economic activity, support a total of 188 jobs annually and produce more than $233,000 in additional state tax revenue.
“This project is a game changer for Virginia’s economy, and the benefits will be both immediate and long-lasting,” said Governor McAuliffe. “In addition to the thousands of jobs and billions in economic activity that the construction of this project will create, the Atlantic Coast pipeline will lower energy costs for Virginia residents and businesses and help reduce carbon emissions in our state and region.

“This project will also help make Virginia the manufacturing hub of the Mid-Atlantic by enabling us to recruit job creating companies that rely on natural gas. I am proud to have been a part of the team helping Dominion and AGL win this competitive project and I look forward to working with them to leverage this enormous asset as we build a new Virginia economy.”

Joining Governor McAuliffe at today’s press conference were representatives from Dominion Resources and AGL Resources, who will oversee the pipeline’s construction and operation in Virginia.

Dominion Chairman, President and CEO Thomas Farrell II said, “Dominion welcomes the opportunity to partner with three other leading energy companies to improve energy reliability and promote economic development throughout Virginia and the entire three-state region."

Hank Linginfelter, EVP Distribution Operations, AGL Resources and Chairman, Virginia Natural Gas added, "This project brings American, abundant, and affordable natural gas to the US460 corridor and Hampton Roads, and will serve as a backbone for economic expansion."

The proposed Atlantic Coast Pipeline will be a huge asset to Governor McAuliffe and his team as they work to create jobs and build a new Virginia economy.

Virginia Secretary of Commerce and Trade Maurice Jones said, “One of the primary pillars of economic development for the New Virginia Economy is best in class energy infrastructure, sustaining access to diverse sources of energy at the most competitive prices. Today's announcement is exactly what's needed to keep Virginia's economy healthy and growing."

For more information on the proposed Atlantic Coast Pipeline view the Dominion Resources news release available here.


Friday, June 27, 2014

Duke Energy Approves 80 MW Solar Farm in North Carolina

Have a sunny day!
Have a sunny day! (Photo credit: Activ Solar)

An Asheville, NC based solar farm developer, Innovative Solar Systems has just recently received approvals by Duke Energy for an 80MW solar farm project in NC.


Asheville, NC (PRWEB
June 26, 2014
Innovative Solar 37, LLC is an 80MW solar farm project that will be located in the middle of the state to be built on approximately five hundred acres of leased land and will supply enough electricity to power approximately 20,000 small to medium size homes. The CEO of Innovative Solar Systems, John Green states that this is the largest solar farm approved to be built to date in the state of North Carolina. This project is a ground mounted type solar farm system and will employ roughly 300,000 solar photovoltaic panels and eighty inverters that will feed the energy to the Duke grid.
Innovative Solar Systems has been a pioneer in the field of large scale solar farms in NC with almost 1GW of projects to be built out in 2014 through 2015. Many of the company’s large portfolio consist of 35MW to 80MW size projects. Investors have an affinity for these larger projects states Green of ISS as both hard and soft costs are reduced by economy of scale when building large projects. These larger type solar farm projects are much harder projects to develop as the approval process is longer, more tedious and requirements are usually more strict due to size and complexity of the projects.
ISS has a proven track record developing large scale solar farm projects and has many strategic relationships with credit worthy utility companies like Duke Energy. Investors and buyers of solar farm projects have come to appreciate the efforts of ISS and many in the industry believe the company offers the gold standard where bankable solar farm deals are concerned. The managing partners at ISS state that the company is excited to finish up the projects in NC as the company has already moved development operations into five other key states that offer clients great solar projects with solid returns. To learn more about this North Carolina solar farm project or for investor relations please call (828)-215-9064.