reuters.com

RWE and Trump administration reach $1.22B deal to cancel offshore wind leases

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Sig3.95Sen-0.80Env-4.35Soc-0.55Gov-1.10

RWE reached a $1.22 billion agreement with the Trump administration to resolve and cancel offshore wind leases, with two remaining leases costing $163 million. RWE said the deal best serves stakeholders and lets it shift resources to projects with certainty. The Senate’s Chuck Schumer criticized the move, after RWE halted U.S. offshore work following orders to freeze multibillion-dollar projects under construction.

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