Duke Energy’s Cliffside coal plant on target for September opening

Duke Energy tells N.C. regulators that the 825-megawatt Cliffside coal unit is 95% complete and remains on schedule for startup in September.

Duke has spent about $1.7 billion and remains on budget to build the plant for $1.8 billion. Financing costs are expected to be $300 million to $400 million more, bringing the plant’s total cost to $2.1 to $2.2 billion.

Duke will receive $125 million in federal tax credits to partially offset those costs. Cliffside is eligible for the tax credit because the high-efficiency design qualifies it as an advanced clean-coal plant…