Trump administration reaches $1.2B deal with offshore wind company to abandon projects

The latest agreement brings the total amount spent on similar settlements to nearly $4 billion

US President Donald Trump, long a critic of wind energy, has repeatedly dismissed wind turbines as unsightly and has labelled them an "economic and environmental disaster."

Trump administration's latest buyback of offshore wind leases brings total to nearly $4 billion

Trump administration’s latest buyback of offshore wind leases brings total to nearly $4 billion  AP News

The Trump administration is paying yet another company more than $1 billion to give up the rights to produce wind off the U.S. coast, the firm announced Thursday. RWE U.S. Offshore, a subsidiary of German energy company RWE, issued a press release saying it will receive $1.22 billion in settlement funds and give up its

Agreement with RWE is fifth deal Trump team has made with energy companies, offering payouts to give up projects The German energy company RWE has reached a $1.22bn deal with the US government to relinquish its offshore wind leases and instead redirect funds towards fossil fuel investments. The agreement marks the fift

An offshore wind company says it's reached a $1.2 billion settlement with the Trump administration to walk away from projects under development off New York, California and Louisiana

It was the fifth such deal struck by the administration to get companies to drop offshore wind projects.

RWE, Trump administration reach $1.22 billion agreement to cancel offshore wind leases  Reuters

German energy developer RWE has agreed to cancel three offshore wind leases it holds in United States waters after striking a $1.22 billion agreement with the Trump administration to reinvest funds in fossil fuel infrastructure.  With this new deal, the Trump administration is spending nearly $4 billion to stifle wind