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.
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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.
Duke to reinvest $129M after canceling NC offshore wind lease
Two months after the Trump administration canceled two large offshore wind energy leases, the US Department of the Interior (DOI) announced a settlement with Duke Energy. The agreement, announced Monday by Interior Secretary Doug Burgum, allows Duke Energy, the state’s largest electrical producer and provider, to voluntarily terminate its federal offshore wind lease for its Carolina Long Bay project. The Carolina Long Bay project was planned aro…
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...
Feds to buy back Duke Energy's offshore wind lease off Brunswick County
BRUNSWICK COUNTY, NC (STARNEWS) — Duke Energy intends to sell its offshore wind lease off Brunswick County back to the federal government, following in the footsteps of other utilities in recent months. “This settlement allows Duke Energy to refocus $129 million in ways that directly benefit our customers and communities in the Carolinas,” said Kodwo Ghartey-Tagoe, executive vice president and chief executive officer of Duke Energy Carolinas. “U…
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