This transaction marks the third green bond issued by a Duke Energy utility in the past 12 months – and brings Duke Energy’s total clean energy offerings to $2.3 billion. Duke Energy Carolinas issued a $1 billion green bond in November 2018 and Duke Energy Progress issued a $600 million green bond in March 2019.
Duke Energy Florida’s second transaction, totaling $200 million, was led by PNC Bank and five diversity-owned financial institutions. The firms included CastleOak Securities, C.L. King & Associates, Drexel Hamilton, Great Pacific Securities and Ramirez & Co. – representing African American-owned, women-owned, Hispanic-owned and disabled veteran-owned institutions.
The funds from this bond will be used to cover costs associated with Hurricane Dorian, as well as other general corporate purposes.
“These transactions demonstrate Duke Energy is investing in more than just energy infrastructure. By offering green and diversity-led bonds, we are investing in the future of Florida,” said Duke Energy Florida state president Catherine Stempien. “We are generating cleaner energy for our customers and communities – and the green bond helps us fund these important projects as we advance our carbon-reduction goals.”
Sam Ramirez, president of Hispanic-owned Ramirez & Co., said his company was pleased to be a part of today’s transaction. Ramirez & Co. has operations in Florida.
“The partnership on this transaction is a testament to Duke Energy’s commitment to diversity and inclusion. We were proud to have a meaningful role in the deal and it demonstrates that Duke Energy understands the importance of involving institutions like ours. It allowed different kinds of diversity-owned firms help Duke Energy Florida broaden its investor base and access low-cost capital on behalf of its customers,” said Ramirez.
