Montauk Renewables, Inc. Announces Agreements With Duke Energy Expanding Waste-To-Renewable Energy In North Carolina
Portfolio Pulse from Happy Mohamed
Montauk Renewables, Inc. (NASDAQ:MNTK) has signed a Renewable Energy Certificates (REC) Agreement with Duke Energy (NYSE:DUK) for a proposed waste-to-renewable energy facility in North Carolina. The facility, expected to be operational by 2025, will convert swine waste into renewable electricity, natural gas, and other commodities. The 15-year agreement calls for Duke to buy the electricity and associated RECs from the conversion.
August 08, 2023 | 9:40 pm
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POSITIVE IMPACT
The agreement with Montauk Renewables could help Duke Energy meet its renewable energy goals and regulatory requirements in North Carolina.
The agreement secures a source of renewable energy and RECs for Duke Energy, which could help it meet its renewable energy goals and regulatory requirements in North Carolina.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
The agreement with Duke Energy could boost Montauk's revenues and profitability in the long term, as it secures a buyer for the renewable energy and RECs produced by the new facility.
The agreement secures a buyer for the renewable energy and RECs produced by the new facility, which could boost Montauk's revenues and profitability once the facility is operational.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100