April 27, 2026

Trump Administration Pays Companies to Exit Offshore Wind Projects

The Trump administration announced payouts to Bluepoint Wind and Golden State Wind to cancel their offshore wind leases, totaling nearly $900 million.
Bluepoint Wind and Golden State Wind, both co-owned by Ocean Winds, will not pursue new offshore wind projects in the U.S. after receiving reimbursements.
This move follows a federal judge's ruling that blocked Trump's executive order to halt offshore wind projects, which had faced legal challenges from multiple states.
Interior Secretary Doug Burgum emphasized a pivot towards fossil fuels, claiming it will lower energy costs for American families.