Trump administration paying another company to give up wind leases, invest in gas and geothermal
Summary
The Trump administration is paying a company named Invenergy to cancel its plans for building offshore wind energy projects. Instead, Invenergy will invest in natural gas plants and geothermal energy.Key Facts
- The Trump administration made a deal with Invenergy, a company with four offshore wind leases.
- Invenergy agreed to give up the rights to build wind energy projects off the coast.
- In return, Invenergy will invest money in natural gas power plants.
- The company will also invest in geothermal energy, which uses heat from under the earth.
- The deal was announced by the Interior Department on a Wednesday.
- This is another example of the Trump administration shifting support away from offshore wind to other energy sources.
- Offshore wind leases mean permission to build wind farms in the ocean.
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