Feds pay Duke Energy $129M for Brunswick County wind lease termination
The U.S. federal government agreed to pay Duke Energy $129 million to terminate a wind energy lease off the coast of Brunswick County, North Carolina. The payment settles the cancellation of the lease for a proposed offshore wind project, marking a significant financial resolution between the utility and federal regulators.
Background
- Duke Energy is a major U.S. utility company serving parts of the Southeast and Midwest. It has been developing offshore wind projects off the coast of North Carolina, particularly in Brunswick County (south of Wilmington).