Zacks Investment Research | May 25, 2017 10:21PM ET
DTE Energy Company's (NYSE:DTE) subsidiary, DTE Biomass Energy, acquired two landfill gas-to-energy projects in Texas.
A Quick Glimpse of the Acquisition
The two projects include the operating Fort Bend Power Producers, LLC facility located outside Rosenberg and the Seabreeze landfill gas development project in Angleton.
The Seabreeze plant construction is expected to start next month. The Fort Bend facility was constructed in 2013 and generates enough RNG for 560 diesel transit buses annually. Both plants have significant economic and environmental benefits.
With the completion of these two acquisitions, the number of landfill gas-to-energy projects operated by DTE Energy rose to three in Texas and to five facilities enterprise-wide. These facilities are responsible for the conversion of landfill gas to pipeline-quality renewable natural gas (RNG).
Focusing on Clean Energy
The RNG produced from the landfill gas at the Fort Bend project and Seabreeze facility will be processed to make pipeline-quality standards.
The final output is a low-carbon fuel which is extremely versatile and is fully compatible with the U.S. natural gas infrastructure.
Climatic changes due to high pollution are affecting the flora and fauna and it is becoming a matter of serious concern. Therefore, all the major companies in the energy industry are trying to shift their focus on low emission fuels.
DTE Energy has extensive plans to reduce its carbon emission by almost 80% by 2050 (compared to 2005 levels). The company plans to get rid of its coal-fired units by 2040. (Read more: Zacks Investment Research
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