Bud's Offshore Energy (BOE)

Duke Energy will voluntarily terminate its offshore wind lease located in Carolina Long Bay.

“This settlement allows Duke Energy to refocus $129 million in ways that directly benefit our customers and communities in the Carolinas,” said Kodwo Ghartey-Tagoe, Executive Vice President and Chief Executive Officer of Duke Energy Carolinas. “Under the agreement, Duke Energy will reinvest nearly $129 million in additional generating capacity, which may include advancing new nuclear and natural gas generation, and grid enhancements to strengthen reliability, support continued growth in the Carolinas and keep costs as low as possible.”

Both Carolina Long Bay leases have now been terminated. In March, Total had agreed to relinquish its Long Bay lease.