US strikes $1.2bn deal to pay German firm to halt offshore wind projects
Summary
The U.S. Department of the Interior, led by President Donald Trump, made a $1.2 billion deal with German energy company RWE. RWE agreed to stop its offshore wind projects in the U.S. and will instead invest the money in natural gas projects.Key Facts
- RWE agreed to abandon offshore wind projects off the coasts of California, Louisiana, and New York.
- The company will use $900 million to build a liquefied natural gas (LNG) export terminal in Louisiana.
- Overall, RWE plans to invest about $19.6 billion in U.S. energy over the next six years, focusing on conventional energy sources.
- Interior Secretary Doug Burgum said this move supports energy security without relying on government subsidies.
- The Trump administration supports fossil fuels and has stopped multiple offshore wind projects in the U.S. in favor of oil and gas development.
- Similar deals were made with the French company TotalEnergies and Duke Energy to end their offshore wind projects.
- President Trump has criticized wind energy, calling turbines "big, ugly windmills" and opposing wind power development.
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