August 6, 2026

Trump Administration Secures $1.2 Billion Deal to Abandon Offshore Wind Projects

RWE U.S. Offshore will relinquish leases for projects capable of generating seven gigawatts of power.
This deal brings total settlements related to offshore wind projects to nearly $4 billion.
RWE plans to invest $900 million in liquefied natural gas and $300 million in natural gas turbines instead.
Critics argue the buybacks undermine clean energy efforts and increase costs for consumers.

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