The Interior Department on Monday announced another agreement to terminate an existing offshore wind lease on the East Coast in exchange for the funds to be invested in other energy projects.
Its the latest agreement from the Trump administration to dismantle nascent offshore wind energy projects. The administration has repeatedly targeted wind development through various legal and regulatory channels.
The new settlement agreement with North Carolina-based Duke Energy, worth around $129 million, brings the total amount re-purposed by the Trump administration to more than $2.7 billion.
“The agreement is a win-win scenario that has become a hallmark for how the Trump administration operates,” Interior Secretary Doug Burgum said in a statement Monday.
