Duke Energy has agreed to give up its Carolina Long Bay offshore wind project in North Carolina.
In a Monday announcement, the U.S. Department of the Interior confirmed the utility will surrender the lease in exchange for a $129 million federal payment. The fourth major offshore wind buyout by the Trump administration officially ends the proposed 1.6-gigawatt project off Bald Head Island.
Duke Energy says it will reallocate the money directly into new natural gas generation, advanced nuclear technology, and grid upgrades in the Carolinas.
While the administration frames the move as a boost for grid reliability, environmental groups sharply criticize the decision, calling it a major setback for clean energy.
