Trump Administration Secures Duke Energy Exit From Carolina Offshore Wind Lease in Latest Buyout Deal

The Trump administration has reached another agreement to unwind a U.S. offshore wind project, this time with Duke Energy, which will voluntarily terminate its lease off the Carolinas and redirect $129 million toward new power generation and grid investments.

The Department of the Interior announced Monday that Duke Energy will surrender its offshore wind lease in the Carolina Long Bay area under a negotiated settlement that allows the company to reinvest an equivalent amount in generating capacity to serve customers across the Carolinas.

According to Interior, the investment could include new nuclear generation, natural gas-fired power plants and electric grid improvements