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News in English (USA) / 18.06.2026 / 04:00

Trump Administration Settles Multiple Offshore Wind Projects for $765 Million

In a continuing effort to reshape the energy landscape, the Trump administration has announced a substantial settlement involving the cancellation of four offshore wind projects, costing $765 million. This deal marks another chapter in a broader strategy that includes the buyout of offshore wind leases as the administration redirects focus towards developing gas and geothermal projects. The recent agreements have drawn criticism and raised concerns about energy costs and environmental impacts. The total cost of the offshore wind buyouts now amounts to $2.5 billion, as several energy companies, including Invenergy, opt to withdraw from their wind leases. The administration maintains that this move will ultimately enhance American energy security.
The New York Times, U.S. Department of the Interior (.gov), AP News, Los Angeles Times, Financial Times, Reuters, Bloomberg, The Hill, WSJ, Heatmap News