Trump Administration Pays RWE $1.22 Billion to Scrap 3 U.S. Wind Leases
Updated
Updated · ms.now · Aug 7
Trump Administration Pays RWE $1.22 Billion to Scrap 3 U.S. Wind Leases
3 articles · Updated · ms.now · Aug 7
Summary
$1.22 billion will go to Germany’s RWE to surrender three federal offshore wind leases off New York, California and Louisiana, marking the administration’s fifth wind-project buyout this year.
The deal pushes total federal payouts to cancel offshore wind projects and leases to nearly $4 billion, extending a pattern that also included settlements with other developers and Duke Energy.
Those abandoned projects would have added renewable power capacity at a time when the report argues cleaner domestic energy could better shield U.S. consumers from fossil-fuel price shocks and geopolitical turmoil.
Trump’s latest buyout fits a broader administration drive to curb offshore wind and steer investment toward fossil-fuel projects, drawing criticism from Democrats over higher taxpayer costs and pollution.