The project, which is estimated to cost approximately $1bn, involves construction of two combined cycle natural gas-fueled electric generating units, each with a capacity of 280MW, to replace its existing coal plant.
The existing coal fired power plant is planned to be decommissioned by 2020. The project is a part of the company’s shift to a smarter and cleaner energy generation plan.
Approximately $750m will be invested in the construction of a 650MW natural gas-fired power plant, and a solar facility at the site.
About $320m will also be spent by the company to construct a transmission substation, a 40-mile transmission line and to modernize electrical infrastructure, to eventually lower environmental impacts and long-term costs to customers.
Construction of the natural gas-fired combined-cycle power plant is planned to commence in 2016 and be completed by late 2019.
Duke Energy North Carolina president David Fountain said: "This project will allow us to continue to provide cost-effective, reliable power for all of our customers in North Carolina and South Carolina."
The firm said it will work with communities to explore and maximize programs and technology in order to delay or cancel future plans for additional peaking generation.
Duke Energy plans to file future Certificate of Public Convenience and Necessity (CPCN) applications for 15MW of solar projects, 5MW utility-scale storage over the next seven years after the closure of the Asheville coal units.
Image: Illustration of the proposed Asheville combined-cycle natural gas-fired power plant in the US. Photo: courtesy of Duke Energy Corporation.
