Duke Energy surrenders wind lease, retools strategy by reinvesting in nuclear and gas; serves 7M+ customers in the eastern U.S. and ranks among Fortune 500.
Duke Energy has surrendered its federal offshore wind lease in the Carolina Long Bay area. The move, approved by the Interior Department, will see nearly $129 million redirected toward new generating capacity, potentially including nuclear and natural gas, with grid improvements to bolster reliability. Critics say the step undercuts offshore wind development and jobs.