The Trump administration announced Wednesday a new $765 million agreement with power company Invenergy to close its offshore wind leases across the country.
The agreement with affiliates of Invenergy, a North American developer, owner and operator of power infrastructure, includes the termination of four offshore wind leases located in the New York Bight, the Central Coast of California and the Gulf of Maine. The action — the latest in a stream of several similar settlement deals from the Interior Department — marks the administration’s continued efforts to halt U.S. offshore wind power, despite repeated setbacks in the courts.
The deal — totaling $765 million — would redirect that amount toward the development of natural gas-fired power plants in Indiana, Wisconsin, Iowa, Kansas and Missouri, and geothermal projects in the western United States, according to the Interior Department.
“Under President Trump, companies are shifting investment back toward dependable, secure energy infrastructure that can power our economy and lower utility costs,” said Interior Secretary Doug Burgum in a statement.
