Trump administration reaches $1.2B deal with offshore wind company to abandon projects
- An offshore wind company announced Thursday that it has reached a $1.2 billion settlement with the Trump administration, effectively abandoning development projects off the coasts of New York, California and Louisiana.
- The latest agreement brings the total amount spent on similar settlements to nearly $4 billion.
- Published on 06/08/2026 - 22:02 GMT+2 Washington will fork out $1.22 billion (€1.06 billion) to German energy firm RWE to cancel the company's offshore wind leases.
Confirmed
- An offshore wind company announced Thursday that it has reached a $1.2 billion settlement with the Trump administration, effectively abandoning development projects off the coasts of New York, California and Louisiana.
Unverified
- The latest agreement brings the total amount spent on similar settlements to nearly $4 billion.
- Published on 06/08/2026 - 22:02 GMT+2 Washington will fork out $1.22 billion (€1.06 billion) to German energy firm RWE to cancel the company's offshore wind leases.
Sources: The Independent, Euronews