Another European energy company has taken a deal to abandon offshore wind in the U.S. in favor of fossil fuel projects more palatable to the Trump administration.
RWE announced a $1.22 billion agreement with the U.S. government to surrender offshore wind leases off the coasts of New York, California and Louisiana. The company is the latest of several companies to take such a deal, which aligns with President Donald Trump’s effort to block offshore wind projects.
In its announcement, the company said “it was determined there is no path forward to permit these projects in the U.S. for the foreseeable future” and that the deal with the Department of the Interior resolves potential legal claims against the federal government.
Why it matters: Trump’s administration has continued to utilize this tactic of cutting checks to persuade companies to abandon offshore wind leases even as it faces legal challenges from states.
