Mon, Jun 29

NEWS: The Trump administration is paying Duke to ditch its wind farm.

  • The deal: The Interior Department will hand Duke Energy $129M to drop its lease for a planned wind project off North Carolina's coast. Duke has agreed to invest that money into other forms of generation (which could include natural gas and nuclear).

  • The pattern: This marks the fourth such cancellation deal between the Trump administration and offshore wind developers. The total payout: Nearly $3B.

  • By the way: As the Trump administration sits on permit reviews, 92 GW of clean energy projects—and $121B in investments—now hang in the balance, Wood Mac found.

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