US strikes $1.2bn deal to pay German firm to halt offshore wind projects
- 3 hours agoRorey BosottiGetty ImagesGerman energy company RWE has said it will abandon its offshore wind projects in the US after reaching a $1.2bn (£892m) payout deal with President Donald Trump's Department of the Interior (DoI).
- RWE said that it will now reinvest the sum into conventional gas projects, including $900m (£669m) in a liquefied natural gas (LNG) export terminal project in Louisiana.
- "After careful consideration, it was determined there is no path forward to permit these projects in the US for the foreseeable future," the company said in a statement.
Unverified
- 3 hours agoRorey BosottiGetty ImagesGerman energy company RWE has said it will abandon its offshore wind projects in the US after reaching a $1.2bn (£892m) payout deal with President Donald Trump's Department of the Interior (DoI).
- RWE said that it will now reinvest the sum into conventional gas projects, including $900m (£669m) in a liquefied natural gas (LNG) export terminal project in Louisiana.
- "After careful consideration, it was determined there is no path forward to permit these projects in the US for the foreseeable future," the company said in a statement.
Sources: BBC News