As Trump Buyouts Upend Offshore Wind, States Fear Lost Development
The administration has struck four buyout deals since March totaling more than $2.5 billion as states sue over its authority to cancel leases.
- Last week, President Donald Trump's Department of the Interior paid Duke Energy $129 million to relinquish its offshore wind lease off the North Carolina coast.
- Since March, the administration has spent more than $2.5 billion to persuade developers to abandon projects, as Trump has long opposed offshore wind, falsely claiming the industry harms wildlife and increases costs.
- Seven states filed a lawsuit earlier this month challenging the administration's authority to cancel these leases, specifically focusing on a March deal with TotalEnergies that blocked a project off the New York coast.
- Timothy Fox, managing director at ClearView Energy Partners LLC, noted that federal blockades have caused firms to reconsider investments if leases appear stalled for three years.
- Eight Atlantic states remain committed to building more than 45 gigawatts of offshore wind by 2040, enough to power more than 30 million homes, despite delays over the next 10 years.
21 Articles
21 Articles
Termination of Gulf of Maine leases casts further uncertainty over offshore wind • Maine Morning Star
A wind turbine along the Columbia River near Goldendale, Wash. (Photo by Alex Baumhardt/Oregon Capital Chronicle)The termination of two federal leases in the Gulf of Maine present the latest layer of uncertainty for offshore wind projects, once thought to be key to Maine’s energy secure, low-carbon future. Last month, the U.S. Department of the Interior announced a settlement agreement with Chicago-based Invenergy, which included the terminatio…
The Trump administration has spent $2.7 billion to cancel nine sea wind projects on the East and West coasts. Who is behind it? The Department of the Interior has signed agreements with TotalEnergy, Invenergy and other companies. What impact does it have? The funds are redirected to gas and oil infrastructure. European green ambitions and companies like Iberdrola note the coup. Washington has once again moved record in its war against offshore w…
Coverage Details
Bias Distribution
- 94% of the sources lean Left
Factuality
To view factuality data please Upgrade to Premium
