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RWE cancels US offshore wind projects after $1.2bn Interior payout deal

RWE will reinvest the $1.2bn payout into conventional gas, including a $900m LNG export terminal in Louisiana, and plans to relinquish offshore leases off California and Louisiana, plus the New York Bight.

Reported · Written up by our desk · Trade & Tariffs

German energy company RWE said it will abandon its US offshore wind projects after reaching a $1.2bn payout deal with President Donald Trump’s Department of the Interior (DoI), according to BBC Business.

RWE said there is no path forward to obtain permits for the wind projects in the US for the foreseeable future. The company agreed to relinquish its leases off the California and Louisiana coasts, as well as in the New York Bight.

RWE added it will redeploy the payout into conventional gas projects, including $900m for a liquefied natural gas export terminal project in Louisiana. The company also said it plans to invest about €17bn in the US over the next six years to grow generation capacity.

BBC Business noted the administration has been pushing to halt offshore wind projects, with Trump arguing the US should not depend on subsidies for wind. The outlet also cited prior deals, including a DoI agreement with TotalEnergies to end offshore wind projects and a separate offshore wind lease termination deal involving Duke Energy.

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