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New York PSC Approves Ravenswood Energy Storage Project

LCG, October 18, 2019--The New York State Public Service Commission (PSC) yesterday approved construction of the largest battery storage facility in New York State history. The 316-MW Ravenswood Energy Storage Project will be built in Long Island City, Queens, New York and scheduled to be partially operational by March 2021.

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Xcel Energy, EVRAZ North America and Lightsource BP Announce 250-MW Solar Project in Colorado

LCG, October 1, 2019--Xcel Energy, EVRAZ North America and Lightsource BP announced Friday that they have reached a long-term agreement to develop a 240-MW solar facility in Colorado. Lightsource BP will finance, build, own and operate the Bighorn Solar project and sell all the electricity it generates to Xcel Energy under a long-term power purchase agreement (PPA). The project will be built on EVRAZ Rocky Mountain Steel property in Pueblo, making it the largest on-site solar facility dedicated to a single customer in the country.

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Industry News

Duke Energy Plans to Pursue Second Nuclear Operating License Renewals for Nuclear Fleet

LCG, September 20, 2019--Duke Energy announced yesterday that it will seek to renew the operating licenses of the 11 reactors it operates at six nuclear stations in the Carolinas for an additional 20 years. The company plans to submit the license renewal application for Oconee Nuclear Station in 2021, followed by its other nuclear stations.

Duke Energy has set carbon reduction goals of at least 50 percent by 2030 and net-zero by 2050, and preserving its carbon-free, nuclear fleet is critical to achieving these goals. The combined generating capacity of the nuclear fleet is approximately 10,755 MW, including the jointly owned shares of the Catawba Station. In 2018, Duke's nuclear fleet marked its 20th consecutive year with a fleet capacity factor of over 90 percent, demonstrating both high utilization and plant reliability. If all of the license renewals are successful, then all of the carbon-free, nuclear units could be operating beyond 2050.

Duke Energy's chief nuclear officer stated, "Our nuclear power plants have safely and reliably provided electricity to our Carolinas customers for decades. These plants generate clean and cost-effective power, provide thousands of well-paying jobs, and produce substantial economic benefits for the Carolinas. Renewing the licenses of these plants is important for our customers, communities and environment."

The original nuclear operating licenses received from the Nuclear Regulatory Commission (NRC) allowed the Duke Energy-operated nuclear units to operate for 40 years. All of these units have already received one renewed, 20-year license extension from the NRC, allowing for a 60-year life. These extensions will start to reach the end of their terms in the early 2030s. The process to renew licenses for a second 20-year period requires a comprehensive analysis and evaluation to ensure the units can safely operate for the extended operation period. The review process begins with an acceptance review of the application once received, with a goal to complete the subsequent license renewal application review within 18 months of docketing.
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