Duke Energy, FPL Group invest $600M in green (electric) vehicles (10,000 by 2020)

[jpak]

http://triangle.bizjournals.com/triangle/stories/2009/09/21/daily58.html

Duke Energy Corp. and Florida energy supplier FPL Group Inc. plan to convert nearly 10,000 road vehicles in their fleets to electric power by 2020.

The initiative is expected to pump as much as $600 million into the electric-car industry. And it was Duke Chief Executive Jim Rogers’ second major announcement at the Clinton Global Initiative meeting this week in New York.

On Wednesday, Rogers announced Duke had signed another agreement with a major Chinese power producer. The memorandum of understanding with ENN Group, China’s largest privately held energy company, focuses on commercial solar-energy projects and the development of clean coal technology.

The ENN agreement also opens up the potential for cooperation on biofuels, energy efficiency and work the Chinese company is doing on using algae to capture carbon from coal-plant emissions.

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