Exelon plans to invest $5B in clean energy by 2015

By Dow Jones Newswires-Wall Street Journal
Posted Nov. 16, 2010 at 1:48 p.m.

Exelon Corp. said it plans to invest nearly $5 billion in clean-energy products by 2015, part of a broader plan to cut its carbon footprint.

The biggest owner of nuclear plants in the U.S. by number of reactors said it plans to begin investments this year in projects such as energy-efficiency programs, renewable-energy investments and increased output at its nuclear plants.

The company had $5.29 billion of revenue in the third quarter.

“A clean energy portfolio, based on sound economics, creates compelling value and provides a clear competitive advantage,” said Chairman and Chief Executive John W. Rowe.

The move is part of Exelon’s broader plans to cut its carbon footprint to the equivalent of its 2001 level by 2020.

In October, Exelon said its third-quarter profit climbed 12 percent as hot summer weather gave power-transmission operations a boost. Its shares, down 18 percent this year, closed Monday at $40.17.

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