US strikes $1.2B deal to pay German firm to halt offshore wind projects
The RWE payout is the latest in a string of deals cancelling wind energy projects, a power source long derided by Trump.
AI Summary
The US Department of the Interior reached a $1.2 billion deal with German energy company RWE to abandon its offshore wind projects off California, Louisiana, and New York. RWE will reinvest the money into conventional gas projects, including a liquefied natural gas terminal in Louisiana. The deal is part of the Trump administration's broader push to halt offshore wind development and boost fossil fuels.