A major DTE Energy (NYSE:DTE) subsidiary has built or contracted for about 870 MW of renewable energy, most of it wind, since 2009.
DTE Electric expects to achieve 9.6% of Michigan’s 10% standard by Q1 2014, according to an investor presentation that the utility filed with the U.S. Securities & Exchange Commission (SEC) on Oct. 17.
DTE Electric is DTE Energy’s regulated electric utility, formerly known as Detroit Edison.
DTE Electric has added 830 MW of wind power since 2009 with the biggest investments being the 200-MW-plus Gratiot Wind park in Gratiot County, Mich., and the 200-MW-plus Thumb Wind parks in Huron and Sanilac Counties, DTE said.
The DTE utility is also spending $900m on environmental compliance by 2017, including $335m being spent in 2013, according to the SEC filing. The utility is also spending $500m on renewable energy and energy efficiency through 2017.
DTE also reviewed the status of its coal fleet. DTE has more than 200 MW of coal capacity that will be retired in the next few years. In addition, there is 650 MW “under current retirement evaluation” and 1,770 MW that might face retirement after 2020.
The rest of the DTE coal fleet is comprised of 4,400 MW of long-term units that could remain part of the DTE portfolio for 20 years, the company said.
With the coal retirements ahead, DTE will increasingly turn to natural gas and wind, the company said in the slide presentation.
DTE Energy met with investors Oct. 17 in Detroit. DTE filed a copy of its extensive slide presentation at the investor conference with the SEC.
