Utility reaches $129 million settlement to relinquish Brunswick County lease, citing shift toward grid reliability and traditional power generation.
BRUNSWICK COUNTY, NC — Duke Energy has reached a settlement with the federal government to terminate its offshore wind lease in the Carolina Long Bay area, formally ending the project planned off the Brunswick County coast.
Carolina Long Bay is a federally designated 110,000‑acre offshore wind energy area located 15 to 22 miles offshore. The region has seen multiple planned developments halted this year following settlements between leaseholders and the federal government.
According to federal records published by the Department of the Interior, the agreement was finalized on Monday, June 29, 2026. Under those terms, Duke Energy will relinquish its lease (OCS‑A 0546)—originally acquired for $155 million in 2022—in exchange for a $129 million settlement.
The settlement requires Duke Energy to reinvest the funds into new energy generation capacity within the Carolinas. Company officials said the investments will focus on strengthening grid reliability through nuclear, natural gas, and infrastructure improvements.
Duke Energy had already paused development at the site in 2025, citing market volatility and rising project costs. The move mirrors a decision earlier this year by TotalEnergies, which also relinquished its offshore lease in the area.
The canceled project had been projected to generate 1.6 gigawatts of energy, enough to power roughly 375,000 homes by 2032.
Local reaction remains divided. Some officials welcome the protection of the coastline and a renewed emphasis on reliable baseload energy, while others warn the termination eliminates thousands of anticipated jobs and major capital investment. The decision ultimately trades the promise of large‑scale offshore wind development for a focus on grid stability and current utility rate impacts.
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