RWE Offshore Wind Lease Buyout Deal Nearly $4B Under Trump Plan
The Trump administration’s offshore wind lease buyouts have reached nearly $4 billion after a $1.22 billion settlement with RWE. RWE agreed to give up three offshore wind leases off New York, California, and Louisiana, canceling about 7 GW of capacity. Courts blocked earlier efforts to halt development, and RWE plans to redirect funds to fossil projects, including a $900 million LNG project and $300 million in gas turbines.