Company committed to produce cleaner, reliable energy using natural gas
Detroit, MI /PRNewswire/ - DTE Energy today announced it will build new energy generation as part of its commitment to ensure long-term reliability and produce cleaner energy for its customers. The new energy generated will replace a portion of the capacity from coal-fired plants DTE intends to retire by 2023.
DTE has plans to build state-of-the-art natural gas turbine plants to provide approximately 1,000 megawatts of energy, enough to power 850,000 homes, and create new jobs for Michigan residents. The company will invest between $1-1.5 billion in these new generating assets, expected to be completed between 2021 and 2023. Based on preliminary site analysis, one project is expected to be located on existing DTE property adjacent to the Belle River power plant in China Township, Mich.
This new generation will provide long term reliability and will add to the company's recent acquisitions of natural gas generating capacity. In 2015, the company acquired the 732 megawatt Renaissance Power Plant in Carson City and the 350 megawatt Dean Peaker Plant in East China Township to assure adequate generating capacity for DTE customers during periods of high demand for power.
"DTE Energy is committed to providing Michigan and our customers with reliable, cleaner sources of energy," said DTE Chairman and CEO Gerry Anderson. "These new energy generation investments will significantly reduce greenhouses gases by moving to cleaner technologies. Just as important, it will enable us to deliver safe, affordable and reliable energy for DTE's 2.2 million customers."
In June, DTE announced plans to retire three of its five coal plants in Michigan – River Rouge, St. Clair and Trenton Channel – by 2023 and replace that capacity with a mix of cleaner energy, including natural gas, wind and solar power. The age of these plants, as well as additional coal plants planned for retirement statewide by other energy companies, demonstrates a need for new energy sources in Michigan.
DTE has already taken steps toward transforming its energy generation and encouraging energy savings with customers:
"As a company, we are always focused on doing the right thing – for our customers, our communities, our employees and our shareholders," Anderson said. "Throughout this process, we will work with the state of Michigan and the Michigan Public Service Commission to ensure affordable, reliable and cleaner energy."
About DTE Energy
DTE Energy (NYSE: DTE) is a Detroit-based diversified energy company involved in the development and management of energy-related businesses and services nationwide. Its operating units include an electric utility serving 2.2 million customers inSoutheastern Michigan and a natural gas utility serving 1.2 million customers in Michigan. The DTE Energy portfolio includes non-utility energy businesses focused on power and industrial projects, natural gas pipelines, gathering and storage, and energy marketing and trading. As one of Michigan's leading corporate citizens, DTE Energy is a force for growth and prosperity in the 450 Michigan communities it serves in a variety of ways, including philanthropy, volunteerism and economic progress. For more information about DTE Energy, visit dteenergy.com; twitter.com/dte_energy and facebook.com/dteenergy.
SOURCE: DTE EnergyCopyright 2016 PR Newswire. All Rights Reserved