Trump Administration Pays Duke Energy $129 Million to Relinquish Offshore Wind Lease

The Trump administration agreed to pay Duke Energy $129 million to cancel its offshore wind lease. The payment effectively ends the company's planned wind farm project in federal waters. This agreement is the fourth time the administration has offered compensation to forfeit offshore wind leases. Officials said the move aligns with the administration's broader energy policy priorities. Critics argue the payouts waste taxpayer money and hinder renewable‑energy development. Supporters contend the settlements reduce regulatory uncertainty for energy firms. The cancelled project had been slated for development off the coast of a U.S. state. The decision adds to ongoing debates over the future of offshore wind in the United States.