Duke Energy agrees to terminate US offshore wind lease

• 30 June 2026
• Government, Windfarms
• Duke Energy

On June 29 it was announced that Duke Energy had agreed to voluntarily terminate its offshore wind lease in the Carolina Long Bay area under a settlement agreement with the U.S. Department of the Interior.

The company will hand over the early-stage lease, valued at $129 million, and reinvest an equivalent amount into other energy resources in the Carolinas.

Duke Energy said the investment could include nuclear generation, natural gas generation and grid upgrades.

The Department of the Interior said the settlement includes a partial reimbursement of the offshore wind lease payment, with the funds redirected to support a broader modernisation strategy.

The agreement is the latest in a series of offshore wind lease buyouts announced by the Trump administration, with similar agreements with Golden State Wind and Invenergy,

This agreement adds to growing uncertainty surrounding the future of offshore wind development in the United States, as developers reassess projects due to policy and market changes.

For more information about offshore wind farm projects across the globe, click here.