10:51 AM EDT, 08/27/2024 (MT Newswires) -- Duke Energy ( DUK ) said Tuesday a project to improve North Carolina's energy grid has been awarded $57 million in cost-share funding from the US Department of Energy.

The project is a partnership between Duke and the North Carolina Department of Environmental Quality and State Energy Office, the company said.

The goal of the project is to rebuild the 40-mile Lee-Milburnie transmission line to improve reliability and meet increasing electricity demand in eastern North Carolina, the company said.

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