Duke Energy accepts $129 million federal buyout to cancel offshore wind project off North Carolina coast
By
Trista Talton
Summary
Duke Energy has accepted a $129 million federal taxpayer buyout to terminate its offshore wind lease off the coast of Brunswick County, North Carolina, following the president's aversion to renewable energy. The U.S. Department of Interior announced the Charlotte-based company will end its wind project off Bald Head Island and instead reinvest the funds into grid enhancements and additional power generation, with the buyout effectively being redirected toward fossil fuels and nuclear power.
Source
bskyDuke Energy accepts $129 million federal buyout to cancel offshore wind project off North Carolina coastcoastalreview.orgKey quotes
· 3 pulledDuke Energy has agreed to ax its wind lease off the coast of Brunswick County, instead pledging to reinvest funds into grid enhancements and additional power generation.
The U.S. Department of Interior announced Monday that the Charlotte-based company will terminate its offshore wind lease in the Car
Duke Energy will terminate its offshore wind lease off Bald Head Island and 'refocus' the $129 million taxpayer buyout back on fossil fuels and nuclear power.
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