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Duke Energy has signed the agreement to formalize the $204 million in economic stimulus funds it will receive from the federal government, the power provider said.
Duke said it will use the funds from the Department of Energy to modernize its power distribution system and install digital equipment on the transmission system in the Carolinas. It said the funding will save or create about 1,000 jobs in Ohio, Indiana, Kentucky, and the Carolinas.
The grant is part of $3.4 billion in government support for 100 projects announced in October.
Duke Energy Corp. is one of the nation's largest power generators with 4 million customers in the Carolinas and the Midwest.
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