Trump Administration Pays Duke Energy $129 Million to Drop North Carolina Offshore Wind Lease
Updated
Updated · The New York Times · Jun 29
Trump Administration Pays Duke Energy $129 Million to Drop North Carolina Offshore Wind Lease
2 articles · Updated · The New York Times · Jun 29
Summary
$129 million will be paid to Duke Energy to give up its federal lease for an offshore wind project in the Carolina Long Bay area off southeastern North Carolina.
The planned wind farm was still in early development, with no construction started, and Duke said it would redirect the reimbursement into other power sources the administration favors, including possible nuclear and natural gas projects.
The agreement is the Trump administration's fourth payout to halt offshore wind development, reflecting Trump's long-running opposition to the sector as inefficient and unattractive.
The move cuts against arguments from scientists and environmental groups that offshore wind is a key low-carbon power source because it avoids greenhouse-gas emissions and uses no large tracts of land.