![]() The total winning auction price was $315 million: $160 million from TotalEnergies for the western lease area, and $155 million from Duke Energy Renewables Wind, LLC for the eastern lease area. ![]() The two leased areas together, encompass a 110,091-acre region off the southern tip of North Carolina’s Atlantic Coast, not far from the South Carolina border. The auctions won by Duke and TotalEnergies earned them the right to investigate the viability of developing offshore wind energy in two adjacent portions of the Wilmington East Wind Energy Area, also known as the Carolina Long Bay area. If fully developed, the two lease areas will generate 1.3 gigawatts (GW) of offshore wind energy-or enough clean, renewable energy to power nearly 500,000 homes. The development of offshore wind resources is a major component of North Carolina’s stated goal of achieving carbon neutrality by 2050. Those efforts gained additional momentum in May 2022 as the Bureau of Ocean Energy Management (BOEM) awarded leases to Duke Energy Renewables Wind, LLC and TotalEnergies Renewables USA, LLC. Recently, we wrote about North Carolina’s efforts to become a major player in offshore wind energy. Competition, Antitrust and Trade Regulations.Real Estate Acquisition, Due Diligence and Financing.Projects, Construction and Infrastructure.Patents - Electrical Engineering & Software.Life Sciences Litigation and Post-Grant Proceedings.Workforce Reorganizations and Reductions.Pharmaceutical and Medical Device Litigation.Inheritance, Fiduciary and Trust Disputes and Litigation.Food and Beverage Regulation and Litigation.Environmental Regulation, Disputes and Litigation.Educational Institutions Litigation Services.Construction and Engineering Litigation.Admiralty and Maritime Disputes and Litigation.Environmental, Social and Governance (ESG).Digital Infrastructure and Cloud Solutions.Retail Development Management and Leasing.Multi-Family Acquisition Development and Management.Joint Venture and Agreements Between Developer and Equity Partners.Hospitality Development Management and Franchising.Government Contracting and Cross-Border Trade.Aerospace, Defense and Government Contracts.Insurance – Regulatory and Transactional.White-Collar Defense, Investigations, and Regulatory Enforcement.Shareholder, Securities and Derivatives Litigation.Finance: Banking, Restructuring, Insolvency.Consumer Finance Disputes and Litigation.Bankruptcy, Restructuring, and Creditors’ Rights. ![]()
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