DETROIT, Feb. 19, 2019 /PRNewswire/ -- DTE Electric
issued its second offering of green bonds on Friday, Feb. 15. The $650
million in bonds will finance green investments, including
renewable energy and energy efficiency. In its initial green bond
offering in May 2018, DTE became the
fifth investment-grade energy company in the nation – and the first
company in Michigan – to sell
green bonds.
"As we move forward to replace our coal-fired generating
facilities our focus on renewable generation and reducing carbon
emissions are key corporate priorities," said Gerry Anderson, chairman and CEO of DTE Energy.
"We are well on our way to our goal of reducing carbon emissions by
more than 80 percent by 2050."
With a maturity of 30 years and an annual fixed coupon of 3.95
percent, a DTE Electric green bond with help to:
- Fund the development and construction of solar and wind
farms, including the transmission infrastructure to support
renewable energy facilities
- Strengthen energy efficiency programs to help
Michigan residents and businesses
save energy and reduce bills
DTE's carbon reduction plan is among the most aggressive and was
one of the first to be announced in the energy industry –
committing the company to significantly higher levels of renewable
energy generation and energy efficiency programs, while maintaining
reliability and affordability for customers.
About DTE Energy
DTE Energy (NYSE: DTE), DTE Electric's parent, is a Detroit-based
diversified energy company involved in the development and
management of energy-related businesses and services nationwide.
Its operating units include DTE Electric, an electric company
serving 2.2 million customers in Southeastern Michigan and DTE Gas,
a natural gas company serving 1.3 million customers in Michigan.
The DTE portfolio includes energy businesses focused on natural gas
pipelines, gathering and storage, power and industrial projects,
renewable natural gas, and energy marketing and trading.
This news release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of,
any securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such jurisdiction.
The Company has filed a registration statement (including a
prospectus) with the SEC with respect to the securities and the
offering referred to in this communication. The offering
of such securities may be made only by means of a prospectus
supplement and accompanying prospectus. You may get these
documents for free by visiting EDGAR on the SEC website at
https://www.sec.gov/. Alternatively, you may obtain a copy of the
prospectus and the prospectus supplement by calling Barclays
Capital Inc. toll-free at 1-888-603-5847, BNY Mellon Capital
Markets LLC toll-free at 1-800-269-6864, J.P. Morgan Securities LLC
collect at 1-212-834-4533 or Merrill Lynch, Pierce, Fenner &
Smith Incorporated toll-free at 1-800-294-1322.
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SOURCE DTE Energy