Duke Energy to Sell Back its North Carolina Offshore Wind Area Lease
The company will use nearly $129 million for new generation and grid upgrades to serve customers in the Carolinas, officials said.
- Duke Energy announced on Monday it will terminate its Carolina Long Bay offshore wind lease and reallocate $129 million into additional generating capacity to serve customers in the Carolinas.
- President Trump has implemented a strategy of buying back offshore wind leases to convert what Interior Secretary Doug Burgum called "national security concerns" into projects lowering customer costs.
- Kodwo Ghartey-Tagoe, Executive Vice President and Chief Executive Officer of Duke Energy Carolinas, said the reinvestment "directly benefit our customers and communities in the Carolinas" through nuclear and natural gas generation.
- Unlike settlements causing friction elsewhere, this deal leaves North Carolina with one proposed wind area, Kitty Hawk, while California continues challenging the administration's lease buybacks through lawsuits led by Attorney General Rob Bonta.
- Kitty Hawk remains North Carolina's final proposed wind area, split into two projects including Coastal Virginia Offshore Wind South, acquired by Dominion Energy from Avangrid in 2024 approximately 40 miles offshore.
28 Articles
28 Articles
North Carolina Out Of The Wind Business: Duke Energy Swaps Marine Lease For Power Grid Upgrades - Tampa Free Press
The federal government and Duke Energy have signed a $129 million settlement that completely changes the trajectory of a massive coastal power project off the Carolinas. Under the newly minted deal, the Charlotte-based energy giant is walking away from its offshore wind lease in the Carolina Long Bay area. Instead of building turbines at sea, […] North Carolina Out Of The Wind Business: Duke Energy Swaps Marine Lease For Power Grid Upgrades
Trump Pays Duke Energy $129 million to Kill Offshore Wind
Current conditions: Temperatures in Washington, D.C., are set to top 90 degrees Fahrenheit before approaching triple digits by mid week • In Taipei, temperatures north of 90 degrees are giving way to thunderstorms all afternoon • June’s “strawberry moon,” as the first full moon of the strawberry-picking season is known, rose last night. THE TOP FIVE1. Trump pays Duke Energy $129 million to abandon its offshore wind leaseThe Department of the Int…
Duke gives up offshore wind lease for ‘partial’ reimbursement under Interior deal
A Duke Energy subsidiary paid $155 million for the lease in 2022, saying it could support up to 1.6 GW of capacity. The utility now says it will “refocus” nearly $129 million to projects that may include new nuclear, natural gas and grid enhancements.
Duke Energy Latest Company to Accept Trump’s Dirty “Deal” to Scrap Offshore Wind - CleanTechnica
RALEIGH, N.C. — Duke Energy accepted $129 million in taxpayer money to buyout an offshore wind lease, making it the latest company to accept such an offer from Trump’s Department of the Interior. Northeast states and California have filed lawsuits in recent weeks against the federal government for similar agreements. These are the latest ... [continued] The post Duke Energy Latest Company to Accept Trump’s Dirty “Deal” to Scrap Offshore Wind app…
The Avery Journal-Times
Duke Energy invests $129M in capacity, terminates offshore wind lease
(The Center Square) – Investment of $129 million in additional generation capacity to serve customers in the Carolinas will be made by Duke Energy, the company and the U.S. Department of Interior said Monday.
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