US pays German firm $1.2bn to abandon offshore wind projects
US strikes $1.2B deal to pay German firm to halt offshore wind projects
The Trump administration has reached a $1.2bn deal with German energy company RWE to halt its offshore wind projects in the US. RWE will relinquish its leases off California, Louisiana, and the New York Bight, and reinvest the payout into conventional gas projects, including $900m in a Louisiana LNG export terminal. This is part of a broader administration push to end offshore wind, following similar deals with TotalEnergies and Duke Energy.
After careful consideration, it was determined there is no path forward to permit these projects in the US for the foreseeable future.
- saagarjha
> Interior Secretary Doug Burgum said in a statement posted on X that Americans deserve an energy system built on common sense and not one dependent on "costly subsidies".
I agree. This is why we are building offshore wind and not subsidizing fossil fuels, right?
- zmmmmm
I read up recently on the history of the fall of the roman empire and it was fascinating how eerily similar it was to the current state of the US. Overwhelmed by corruption and wars they make stupider and stupider decisions on ever larger scales, ever more frequently. And the population grows ever more cynical, eventually opting for authoritarianism before eventually the center can't hold any more and it all collapses in on itself.
Funnily enough, the most striking part was the pure stupidity of a lot of it - seems so strange, but every day it seems I hear another really stupid story and think ... huh, maybe it really can be like that.
- chewbacha
Parts of the world are literally on fire but the US is redirecting money to halt renewables and towards gas.
The demand for energy is higher than ever due to AI data centers, but I guess the next model is more important than a habitable environment.
- juntoalaluna
Insane.
Over the last year, wind - mostly offshore - has generated more than 35% of electricity here. Gas is down to 27%. It's really, really good. And it looks cool.
- satvikpendem
Meanwhile China is becoming entirely energy independent and electrifying their economy. I don't understand how the US doesn't see that they won't be top dog forever especially in this multipolar age.
- bsenftner
The USA is governed by evil people, and the people of the nation are too stupid and expecting someone else to stop them. Plain as day light.
- radu_floricica
Situation is quite different than the article paints it. The venture was risky to begin with, and already dead in 2026. Subsidies are gone, GE didn't produce their new 18MW turbine, interest rates and construction costs went up etc. State bureaucracy is its own quagmire, the fact that federal admin turned hostile was just the cherry on top.
Current deal is pretty clean and a win for both parties. US gov won't be drawn into a lengthy trial, RWE gets their money back, US gets a similar value investment, RWE gets a safer investment and a likely friendly government. US made some 40mil from the deal, or more likely 1-200 mil considering inflation; on the other hand RWE didn't lose their whole investment.
- eigenspace
Hopefully they take the money and use to to build more wind turbines in Europe I guess.
Absolutely shameful what the USA has become.
- ebri
I wish I had not read this. I am not kidding when I say this is ruining my day thinking about. One thing is they ruin our times. But they are in the game of ruining the rest of time for humankind, too.
- r0b05
This is beyond my understanding. They are actually paying to stop society from advancing.