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DTE Energy breaks ground on new solar park to help meet Ford Motor Company's needs for 100% carbon-free and renewable energy

1. DTE started construction on a 100-megawatt solar array in Michigan. 2. Ford's purchase of 650 megawatts is a historic renewable energy agreement. 3. DTE aims for $4 billion in renewable energy investment soon. 4. New solar parks will power over 220,000 homes starting this year. 5. DTE aligns with state goals for net zero carbon emissions.

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FAQ

Why Bullish?

The significant investment in renewable energy and partnership with Ford enhance DTE's growth trajectory, reflecting positively on stock performance.

How important is it?

DTE's initiatives directly tie to its growth and sustainability goals, aligning with market demand for renewable energy, influencing investor sentiment positively.

Why Long Term?

The investment commitments and partnerships developed today will yield operational benefits and revenue over several years. Historical examples like similar renewable initiatives have brought sustained stock value increases.

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Detroit, April 15, 2025 (GLOBE NEWSWIRE) -- DTE Energy, the state’s largest producer of and investor in renewable energy, broke ground this morning on a 100-megawatt solar array near Coldwater, MI. When complete in 2026, Cold Creek Solar Park will be the first of several DTE parks that will help Ford Motor Company reach its goal of attributing 100 percent carbon-free and renewable energy to its Michigan manufacturing facilities.   Ford’s purchase of 650 megawatts of renewable energy from DTE’s CleanVision MIGreenPower program is the larges such purchase from a utility in U.S. history. MIGreenPower, DTE’s voluntary renewable energy program, enables business and residential customers to attribute their electricity use to Michigan-made renewable energy while funding the development of new solar and wind parks, such as the new array now under construction near Coldwater.   Ford’s enrollment in MIGreenPower, which will help the company avoid as much as 600,000 tons of carbon dioxide emissions annually, is part of its global environmental commitments. The company’s goal is to achieve carbon neutrality across its vehicles, manufacturing and supply chain no later than 2050, and to use 100% carbon-free electricity in its global manufacturing facilities by 2035.   “Thanks to this strategic investment with DTE, Ford will soon be able to attribute all of our electricity supply in Michigan to clean energy,” said Amir Mirshahi, director of Utilities and Energy Infrastructure at Ford. “This partnership is proof of Ford’s unwavering commitment to transitioning to clean energy and aligns us with our sustainability objectives. It represents a significant step toward our goal of achieving carbon neutrality and will also help make our local Michigan communities more resilient to the impacts of climate change.”  "We’re excited to be on this clean energy journey with Ford to fulfill its electricity needs with affordable, Michigan-made renewable energy,” said Matt Paul, president and chief operating officer, DTE Electric. “Our customers – whether they are large manufacturers like Ford, or hometown businesses, or families – are telling us they want more renewable energy, and we will continue to develop and deliver it to them.”  DTE's renewable energy portfolio currently consists of 20 wind parks and 34 solar parks – all located in Michigan. DTE has invested $4.6 billion in its renewable energy infrastructure since 2009 and aims to invest an additional $4 billion in renewable energy over the next several years.   In 2025, DTE will have three new solar parks coming online in the first half of year, with three additional solar parks beginning construction. The six parks will total 800 megawatts, or enough clean energy to power more than 220,000 homes. The developments will help DTE make significant progress toward its goal of achieving net zero carbon emissions as well as meeting the State of Michigan’s clean energy goals.  For more information on DTE’s MIGreenPower program, please visit www.migreenpower.com.    About Ford Motor Company Ford Motor Company (NYSE: F) is a global company based in Dearborn, Michigan, that is committed to helping build a better world, where every person is free to move and pursue their dreams. The company’s Ford+ plan for growth and value creation combines existing strengths, new capabilities and always-on relationships with customers to enrich experiences for and deepen the loyalty of those customers. Ford develops and delivers innovative, must-have Ford trucks, sport utility vehicles, commercial vans and cars and Lincoln luxury vehicles, as well as connected services. Additionally, Ford is establishing leadership positions in mobility solutions, including self-driving technology, and provides financial services through Ford Motor Credit Company. Ford employs about 182,000 people worldwide. More information about the company, its products and Ford Credit is available at corporate.ford.com.  About DTE Energy DTE Energy (NYSE:DTE) is a Detroit-based diversified energy company involved in the development and management of energy-related businesses and services nationwide. Its operating units include an electric company serving 2.3 million customers in Southeast Michigan and a natural gas company serving 1.3 million customers across Michigan. The DTE portfolio also includes energy businesses focused on custom energy solutions, renewable energy generation, and energy marketing and trading. DTE has continued to accelerate its carbon reduction goals to meet aggressive targets and is committed to serving with its energy through volunteerism, education and employment initiatives, philanthropy, emission reductions and economic progress. Information about DTE is available at dteenergy.com, empoweringmichigan.com, x.com/dte_energy and facebook.com/dteenergy.  

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