Exelon to Invest $5bn in Affordable Clean Energy Projects

21 November 2010 (Last Updated November 21st, 2010 18:30)

US-based Exelon has plans to invest $5bn in affordable clean energy projects in support of its Exelon 2020 strategy, aimed to eliminate the equivalent of its 2001 carbon footprint by 2020. The company has reached halfway in achieving its goal by reducing, offsetting or displacing more t

US-based Exelon has plans to invest $5bn in affordable clean energy projects in support of its Exelon 2020 strategy, aimed to eliminate the equivalent of its 2001 carbon footprint by 2020.

The company has reached halfway in achieving its goal by reducing, offsetting or displacing more than 15 million tons of greenhouse gas emissions per year by 2020.

The initiatives undertaken by the company include energy-efficiency programmes for ComEd and PECO customers and in Exelon's own operations, including cutting energy use at company facilities by 23%.

The company also increased output of its zero-emission nuclear plants by 100MW since 2008, invested in renewables, purchased a $900m 735MW wind operation from John Deere and is a 10MW solar plant on Chicago's South Side, US.

Smart Grid initiatives in Chicago and Philadelphia, retiring four inefficient, carbon-intensive fossil units in Pennsylvania, which have a combined capacity of 933MW, are also part of the initiatives.