"The Trump administration is canceling a lease held by Duke Energy Corp. off the coast of North Carolina as it expands its campaign to block new offshore wind developments.
Under an agreement with the Interior Department, Duke will voluntarily terminate its lease valued at $129 million located in the Carolina Long Bay Area and invest the same amount in additional generating capacity, the agency announced Monday.
Duke aims to invest the refunded money in projects such as nuclear generating facilities and grid upgrades before the end of the year, according to a company statement.
The Trump administration’s decision to terminate the North Carolina lease is part of broader White House strategy that’s resulted in the cancellation of billions of dollars in offshore wind leases held by companies such as Invenergy LLC and TotalEnergies SE."
