DTE Electric company concludes $1B bond offering for clean energy
For its third sale of green bonds, completed this week, DTE Electric company put up $1 billion for clean energy investments in Michigan.
This money is going toward the development and construction of both solar and wind farms, along with the transmission infrastructure that makes them possible. It will also strengthen energy efficiency programs to increase both energy and bill savings.
“DTE’s progress toward our net zero aspiration gains more momentum with every year,” Jerry Norcia, DTE Energy president and CEO, said. “Green bonds help fund that progress as we work to achieve a cleaner, more sustainable energy future.”
DTE Electric company is a subsidiary of DTE Energy. The Detroit-based company was one of the first to introduce a carbon emission reduction plan in the United States in 2017. It offered its first green bond sale in May 2018, and since then, has issued approximately $2 billion in green bonds.
