Duke Energy Q2 results strong

Leading US wind and solar player Duke Energy posted strong second quarter earnings as all business segments including renewables generation performed well.

Net income was $1.11 per share on an adjusted basis versus 87 cents a year earlier.

"We are executing our strategy to position the business for long-term sustainable growth, benefitting our customers and shareholders," says chief executive Lynn Good.

Duke’s main business is rate-regulated utilities in Florida, the Midwest and North Carolina.

Its competitive commercial energy business includes almost 1.8GW of wind and solar assets nationwide. Duke Energy Generation Services builds, owns and operates renewable facilities, and also operates and maintains wind farms for third parties.

The segment had a $16m net profit versus a $3m net loss a year earlier, with results partly driven by higher wind and solar generation.

Duke Energy also owns and operates hydro and thermal power plants in Latin America.