Michigan energy legislation approved in 2008 has provided DTE Energy with some economic certainty that has allowed the company to invest in projects that provide a cleaner environment while providing attractive jobs in the state, the company's CEO told shareholders at their annual meeting.
Anthony F. Earley Jr. cited the massive emissions-control project at Detroit Edison's Monroe Power Plant as an example of the company's commitment to continuing to invest in Michigan and to improving the environment.
In the coming months, Earley says Detroit Edison will begin another $600 million phase of the project, which is expected to create 600 construction jobs. In addition, another 300 jobs and $300 million in indirect economic activity in the area will be generated by the project.
The company also plans to invest another $100 million over the next year to develop renewable electricity generation, including wind and solar projects.
DTE Energy is also embarking on a smart grid project. The SmartCurrents project, thanks to an $84 million U.S. Department of Energy stimulus funding grant, will accelerate the project and allow for 600,000 new smart meters to be installed over the next two years.
SOURCE: DTE Energy Â Â