Duke Energy terminates offshore wind lease in Carolina Long Bay under settlement with Interior Department

Key Facts

1Duke Energy will terminate its offshore wind lease in the Carolina Long Bay area as part of a settlement agreement with the U.S. Department of the Interior.

As the Trump administration shifts U.S. policy away from renewable power sources, the Department of the Interior announced that Duke Energy will terminate its offshore wind lease in the Carolina Long Bay area as part of a settlement agreement. The deal allows the company to avoid litigation with the federal government and follows a series of executive orders targeting clean energy support.

This move aligns with President Trump's broader stance against offshore wind projects, which has included executive orders halting new lease permits. The U.S. offshore wind industry faces regulatory uncertainty, with multiple lease agreements under review. While the settlement protects Duke from potential lawsuits, it signals a strategic retreat from offshore wind development, potentially affecting the company's clean energy transition plans.

Duke Energy stock (DUK) closed at $128.40 on June 26, with support near $127.50 (weekly low). Investors will watch for further policy announcements related to renewable energy and the company's next quarterly earnings for clarity on its clean energy strategy.