News

DTE issues $650M in bonds for green investments

Building on the prior offering that made it the first company in Michigan to sell green bonds, DTE Electric has issued another $650 million in bonds to finance green investments like renewable energy and energy efficiency projects.

These bonds will be offered with a 30-year maturity and an annual fixed coupon of 3.95 percent. In aiming to drastically reduce carbon reduction, they will go to fund development and construction of solar and wind farms and strengthen energy efficiency programs.

“As we move forward to replace our coal-fired generating facilities our focus on renewable generation and reducing carbon emissions are key corporate priorities,” said Gerry Anderson, chairman and CEO of DTE Energy. “We are well on our way to our goal of reducing carbon emissions by more than 80 percent by 2050.”

The plan has been underway since May of last year, when DTE  became one of only five investment-grade energy company to sell such bonds.

Chris Galford

Recent Posts

National Renewable Energy Lab uses robots to aid wind turbine blade manufacturing

Looking to cut down on the difficult nature of the work for humans and improve consistency of the outcome, the…

15 hours ago

Switch to LED streetlights could save Sylvania, Ohio nearly $77,000 annually

Toledo Edison this month began a massive streetlight conversion project through Sylvania, Ohio, installing the first of 1,650 LED replacements.…

15 hours ago

Southern Nuclear names new CEO and chairman

Peter Sena III has been named the new chairman and CEO of Southern Nuclear, a subsidiary of the Southern Company.…

15 hours ago

Argonne National Lab to build R&D facility to test large-scale fuel cell systems

The U.S. Department of Energy’s (DOE) Argonne National Laboratory (ANL) is con structing a research and development (R&D) facility to…

15 hours ago

Program that offers tax credits for wind and solar in low-income communities to launch soon

A program that provides a 10 or 20-percentage point boost to the investment tax credit for qualified solar or wind…

2 days ago

Business Council for Sustainable Energy voices support for crackdown on critical mineral supply chains

As the House considers numerous ways to lock China out of the U.S. market, the Business Council for Sustainable Energy…

2 days ago

This website uses cookies.