Sprint and Duke Energy Renewables sign agreement on new 182-MW wind power project in Texas
OVERLAND PARK, Kan. and CHARLOTTE, N.C., Sept. 18, 2019 /PRNewswire/ -- Sprint (NYSE: S) and Duke Energy Renewables, a commercial business unit of Duke Energy (NYSE: DUK), today announced a 12-year virtual power purchase agreement (VPPA) for 173.3 megawatts (MW) of new wind energy. Duke Energy Renewables will build, own and operate the 182-MW Maryneal Windpower project located in Nolan County, Texas, that will come online in 2020.
The agreement will enable Sprint to significantly reduce its carbon footprint and achieve approximately 30 percent renewable energy for its total electricity portfolio. The project will provide enough renewable energy to power the equivalent of more than 54,000 U.S. homes and will reduce carbon emissions equivalent to removing more than 96,000 cars from the road annually.
"Sprint is serious about minimizing its carbon impact, and operating as a more sustainable company," said Sprint Foundation Chairman Doug Michelman. "This wind project will help us make substantial progress towards offsetting the energy we use across our operations, including our headquarters, retail stores, call centers and cell towers."
The Maryneal project increases Duke Energy Renewables' U.S. wind capacity to more than 3,000 MW. Full notice to proceed with construction will begin in early 2020 and the wind project will be fully operational by December 2020. During peak construction, the project will create approximately 200 jobs.
"Wind power is contributing to a cleaner, stronger U.S. economy and the Maryneal Windpower project further expands our renewable energy presence in Texas," said Rob Caldwell, president of Duke Energy Renewables. "We're excited to work with Sprint to create jobs, strengthen the local economy and generate clean energy."
The long-term VPPA complements Sprint's longstanding sustainability strategy, originally launched in 2008, which includes reducing greenhouse gas (GHG) emissions, conserving natural resources such as water and paper, eliminating waste from all corners of the business and responsibly recycling waste when possible. Schneider Electric Energy and Sustainability Services advised Sprint on the Maryneal VPPA, supporting project selection and negotiations.
Nordex Acciona will supply 38 4.8-MW wind turbines for the site. Wanzek Construction is the contractor for the project.
"We are pleased to be working together with Duke Energy Renewables, one of the most experienced developers in North America and part of one of the largest energy holding companies in the U.S. In addition, both companies have the same goals: to build renewable energy sources for the future with solid technology. The highly efficient N149/4.0-4.5 turbine is the ideal choice for this and for many potential project sites in the USA," says Patxi Landa, CSO of the Nordex Group.
Duke Energy is one of the nation's top renewable energy providers - on track to own or purchase 8,000 megawatts of wind, solar and biomass energy by 2020.
For more information on Sprint's energy and Corporate Social Responsibility (CSR) efforts, please visit https://newsroom.sprint.com/csr/.
About Duke Energy Renewables
Duke Energy Renewables, a nonregulated unit of Duke Energy, operates wind and solar generation facilities across the U.S., with a total electric capacity of 3,000 megawatts. The power is sold to electric utilities, electric cooperatives, municipalities, and commercial and industrial customers. The unit also operates energy storage and microgrid projects. Visit Duke Energy Renewables for more information.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, in addition to Duke Energy Renewables' capacity.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. 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.
About Sprint:
Sprint (NYSE: S) is a communications services company that creates more and better ways to connect its customers to the things they care about most. Sprint served 54.3 million connections as of June 30, 2019 and is widely recognized for developing, engineering and deploying innovative technologies, including the first wireless 4G service from a national carrier in the United States; leading no-contract brands including Virgin Mobile USA, Boost Mobile, and Assurance Wireless; instant national and international push-to-talk capabilities; and a global Tier 1 Internet backbone. Today, Sprint's legacy of innovation and service continues with an increased investment to dramatically improve coverage, reliability, and speed across its nationwide network and commitment to launching a 5G mobile network in the U.S. You can learn more and visit Sprint at www.sprint.com or www.facebook.com/sprint and www.twitter.com/sprint.
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 Form 10-K for the year ended December 31, 2018, and subsequent quarterly reports filed with the Securities and Exchange Commission ("SEC") and available at the SEC's website at www.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.
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