The U.S. Department of Energy selected Duke Energy (NYSE: DUK) for grant funding of up to $61.8 million to support reliability and refurbishment projects at coal-fired power plants in Kentucky and North Carolina, according to a company statement.

The new funding includes up to $33.4 million for East Bend Station in Kentucky and up to $28.4 million for Roxboro Station units 2 and 3 in North Carolina. Combined with a previously announced $34 million grant for Belews Creek Steam Station in North Carolina, total DOE funding for Duke Energy projects reaches nearly $96 million.

Duke Energy will enter negotiations to finalize funding amounts. The company filed applications for grant funding in late 2025, identifying these plants for needed refurbishment of critical components to maintain operational reliability.

"We take every opportunity at Duke Energy Kentucky to reduce costs for our customers while continuing to deliver the reliable energy they depend on, and we appreciate the partnership of the Trump administration and DOE in this regard," said Amy Spiller, president of Duke Energy's utility operations in Ohio and Kentucky.

Kendal Bowman, president of Duke Energy's utility operations in North Carolina, stated the funding supports previously planned critical upgrades that help ensure continued delivery of reliable power while keeping costs low.

The Charlotte-based company serves 8.7 million electric customers across North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, with 55,700 megawatts of energy capacity. Duke Energy also operates natural gas utilities serving 1.6 million customers in North Carolina, South Carolina, Ohio and Kentucky.