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The sites will be located in Madison, Sumter, Hernando and Jefferson counties and completed by summer 2026All together, they are expected to save customers $843 million over their service lifetimes

ST. PETERSBURG, Fla., March 25, 2025 /3BL/ – Duke Energy Florida submitted its 2025 Solar Base Rate Adjustment (SoBRA) filing to the Florida Public Service Commission (FPSC), outlining plans for four solar energy sites the company is pursuing this year in order to deliver on its commitment to continue providing reliable, affordable and increasingly clean energy for its customers.

In accordance with Duke Energy Florida’s settlement agreement – which was approved by the FPSC in August 2024 – the company is investing over $521 million to establish solar sites in Madison County (Sundance Renewable Energy Center), Sumter County (Half Moon Renewable Energy Center), Hernando County (Rattler Renewable Energy Center) and Jefferson County (Bailey Mill Renewable Energy Center). All together, these sites are expected to save customers $843 million over their service lifetimes.

To date, the company has broken ground on the Sundance, Half Moon and Rattler renewable energy centers, all of which will be in service by January 2026. Bailey Mill Renewable Energy Center is continuing through the permitting process with the goal of starting construction in the summer of 2025, allowing for it to come online by the summer of 2026. During construction, each solar site will create an average of 150 temporary jobs, and when completed, they will add nearly 300 megawatts of quiet, carbon-free energy to the electric grid.

At peak output, each of the four 74.9-megawatt solar sites will generate enough electricity to power the equivalent of approximately 23,000 homes, while displacing 1.2 million cubic feet of natural gas, 15,000 barrels of fuel oil and 12,000 tons of coal annually.

“At Duke Energy Florida, we work every day to modernize and strengthen our generation fleet,” said Melissa Seixas, Duke Energy Florida state president. “Solar energy is an innovative, cost-effective and clean solution we continue to implement on behalf of our customers all across the Sunshine State.”

Duke Energy Florida currently owns, operates and maintains a portfolio of more than 25 solar sites across the state that produce approximately 1,500 megawatts of energy. Between 2025 and 2027, the company plans to build 12 new solar sites – including these four – adding an additional 900 megawatts of energy to the electric grid. In fact, by the end of 2033, the company projects to have over 6,100 megawatts of utility scale solar generating capacity online.

Duke Energy Florida

Duke Energy Florida, a subsidiary of Duke Energy, owns 12,300 megawatts of energy capacity, supplying electricity to 2 million residential, commercial and industrial customers across a 13,000-square-mile service area in Florida.

Duke Energy

Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of America’s largest energy holding companies. The company’s electric utilities serve 8.4 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and collectively own 54,800 megawatts of energy capacity. Its natural gas utilities serve 1.7 million customers in North Carolina, South Carolina, Tennessee, Ohio and Kentucky.

Duke Energy is executing an ambitious energy transition, keeping customer reliability and value at the forefront as it builds a smarter energy future. The company is investing in major electric grid upgrades and cleaner generation, including natural gas, nuclear, renewables and energy storage.

More information is available at duke-energy.com and the Duke Energy News Center. Follow Duke Energy on X, LinkedIn, Instagram and Facebook, and visit illumination for stories about the people and innovations powering our energy transition.

Contact: Aly Raschid 
24-Hour: 800.559.3853 
X: @DE_AlyRaschid

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Abundant low-cost energy is foundational for President Trump’s program. Yet, while his initiatives to fast-track oil and gas development have grabbed the headlines, they’re only a part of the energy picture. We believe equity investors will continue to find good opportunities in renewable energy and particularly in the infrastructure for electricity transmission and storage.

Power Needs Are Growing

Power needs in the US and across the world are growing at a pace and scale that require multiple power generation solutions. Renewable energy projects are set to become a much larger part of the mix because of two key advantages: low costs and speed to market. Though recent policy changes in the US—and budget pressures across Europe—may temper that trend, they won’t stop it, in our view (Display).

The Need for Speed

Speed to market is an important consideration. In the US, for instance, AI is substantially increasing power demand at a time when significant amounts of coal-fired power generation are being retired: the vast majority of coal plants are too old and costly to run. Wind and solar are often the only viable replacements for two reasons: first, they can come onstream fastest; and second, even without subsidies, they are cost-competitive—when paired with battery storage—versus carbon-based alternatives. In addition, equipment costs are the lowest they’ve ever been, and the cost of producing clean power continues to fall across the globe. 

All else equal, a loss of government subsidies for renewables would make gas relatively more attractive. But wind and solar would remain viable just based on economics, in our view. We also believe the new US policies will likely be less damaging than feared for low-carbon solutions. In particular, we don’t expect a full repeal of the Inflation Reduction Act (IRA) which provides significant federal funding / tax incentives across renewables, other clean technologies and electricity transmission. (The IRA has created many jobs across the US, too.) State-level and utility spending will also likely remain robust, favoring utility-scale, commercial and industrial, and community projects.

Look Beyond Familiar Investment Opportunities

Of course, the path to renewable profits and returns hasn’t been smooth. For example, some renewable developers have been badly hurt by post-COVID interest-rate rises and cost inflation, and even at current share price levels we believe investors should be highly selective in this subsector. But the scale and breadth of developments in the power transition are often underestimated, in our view. We think these dynamics are creating major opportunities in electrification and energy efficiency.

Energy Infrastructure Needs Upgrading

Upgrading and reinforcing electricity grids will be a particularly important focus. In the US and across the developed world, grids are approaching or have exceeded their planned life but need to carry massively increased loads, especially considering AI-related power demands and the increasing need for grid resilience to mitigate climate, geopolitical and other risks.

The push for energy efficiency, the increase in data centers and local regulations are all driving electrification. 

Companies such as Prysmian (copper and fiber cables, systems and accessories), Hitachi (cables and transformers), Hubbell (cable distribution) and Schneider (“smart grid” solutions to improve grid reliability and flexibility) have all benefited from grid spending. Their markets have backlog visibility extending several years ahead. US policy changes that encourage reshoring will also benefit stocks involved in the push for electrification. But investors will need to be selective—not all component suppliers benefit from the same competitive advantages.

Watch Points for Investors

Investors in these industries should pay particular attention to companies’ operational efficiency metrics as well as identifying which regulations, tailwinds and headwinds are material for their prospective investments. 

Given the global nature of many of these businesses, it’s important to ensure that companies across the supply chain provide adequate data disclosures. Countries outside the US may have stringent sustainability requirements that require companies with supply chains in their jurisdictions to comply with local sustainability regulations. Offenders may face fines and greater difficulty raising capital.

Selectivity Is Key

Some of the early optimism around clean energy companies has dissipated, and new US policies may have a negative impact in specific areas. That said, the power transition is still very much underway and continues to offer a wide range of opportunities. 

For investors, the keys to success will be thorough analysis and continued vigilance. That means investors must focus not only on the business models and fundamentals of their selected companies, but also how the businesses are affected by the evolution of regulation and government policies.

References to specific securities discussed are not to be considered recommendations by AllianceBernstein L.P.

The views expressed herein do not constitute research, investment advice or trade recommendations, and do not necessarily represent the views of all AB portfolio-management teams and are subject to change over time.

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EMERYVILLE, Calif., March 25, 2025 /3BL/ – SCS Global Services, a pioneer in third-party environmental and sustainability certification, today announced that VFLP California achieved Bee Better Certified™ status through SCS’ auditing services. The certification verifies the comprehensive pollinator conservation practices implemented at the company’s Burns Ranch operation in Stockton, California, which produces premium blueberries for Driscoll’s.

The Bee Better Certified program is the only third-party certification that specifically focuses on pollinator health and biodiversity conservation on farms. Developed by the Xerces Society for Invertebrate Conservation with support from USDA’s Natural Resources Conservation Service, the program requires growers to dedicate a portion of their land to pollinator habitat and implement Integrated Pest Management (IPM) practices.

“VFLP California’s achievement represents exactly the kind of agricultural leadership we need to protect our vital pollinator populations,” said Alex Judd, Program Manager for Sustainability at SCS Global Services. “Their comprehensive approach to creating pollinator habitats within a productive blueberry operation demonstrates that economic and ecological goals can be successfully aligned. This certification recognizes their exceptional efforts to implement science-based conservation practices that benefit both their operation and the surrounding ecosystem.”

The certification process involved a thorough assessment of Burns Ranch’s agricultural practices, including evaluation of dedicated pollinator habitats, integrated pest management strategies, and implementation of buffer zones to protect sensitive ecological areas. By achieving certification, VFLP California has demonstrated its leadership in addressing pollinator decline while maintaining productive agricultural operations for one of the world’s leading berry brands.

The certification also positions VFLP California to meet major retailers’ sustainability requirements. Walmart announced last year that by 2025, 100% of floral and fresh produce sold in its stores will be sourced from suppliers with third-party certifications such as Bee Better Certified™, making this achievement strategically valuable for VFLP’s market position as a Driscoll’s producer.

For more information about the Bee Better Certified program administered by SCS, visit https://www.scsglobalservices.com/services/bee-better-certified

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About SCS Global Services  
SCS Global Services is a global leader in third-party environmental and sustainability verification, certification, auditing, testing, and standards development, currently celebrating its 40th year of services. Its programs span a cross-section of industries, recognizing achievements in climate mitigation, green building, product manufacturing, food and agriculture, forestry, consumer products, and more. Headquartered in Emeryville, California, SCS has representatives and affiliate offices throughout the Americas, Asia/Pacific, Europe, and Africa. Its broad network of auditors are experts in their fields, and the company is a trusted partner to companies, agencies, and advocacy organizations due to its dedication to quality and professionalism. SCS is a California-chartered Benefit Corporation, reflecting its commitment to socially and environmentally responsible business practices.  SCS is also a Participant of the United Nations Global Compact and adheres to its principles-based approach to responsible business. For more information, visit www.SCSGlobalServices.com 

Media Contact: 
Shyama Devarajan 
Senior Marketing Manager, SCS Global Services 
sdevarajan@scsglobalservices.com