DTE Electric Company Completes Third Green Bond Offering

$1 billion in green bonds to finance carbon-free investments

DTE Energy’s subsidiary, DTE Electric company, completed its third offering of green bonds on Monday, March 29. The $1 billion bond offering will finance green, or clean, energy investments, including renewables and energy efficiency programs. In its initial green bond offering in May 2018, DTE became the fifth investment-grade energy company in the nation – and the first company in Michigan – to sell green bonds. With this latest offering, DTE Electric has now issued approximately $2 billion of green bonds.

“DTE’s progress toward our net zero aspiration gains more momentum with every year,” said Jerry Norcia, DTE Energy President and CEO. “Green bonds help fund that progress as we work to achieve a cleaner, more sustainable energy future.”

A DTE Electric green bond will help to:

• Fund the development and construction of solar and wind farms, including the transmission infrastructure to support renewable energy facilities, and
• Strengthen energy efficiency programs to help Michigan residents and businesses save energy and reduce bills.

DTE’s carbon emission reduction plan is among the most aggressive and was one of the first to be announced in the nation’s energy industry in 2017 – committing the company to significantly higher levels of renewable energy generation and energy efficiency programs, while maintaining reliability and affordability for customers.