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Trump administration pays $765M to kill more offshore wind projects, including one off California

The Department of Interior paid Invenergy $765 million to abandon four offshore wind leases. This is the third such agreement reached by the administration. Total spending to cancel wind projects has reached roughly $2.5 billion.

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New data identifies this as the third cancellation deal and provides the total expenditure for such agreements.

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  1. Trump Administration Pays Invenergy $765 Million to Cancel Wind Leases

    The Department of Interior paid Invenergy $765 million to abandon four offshore wind leases. This is the third such agreement reached by the administration. Total spending to cancel wind projects has reached roughly $2.5 billion.

    What's confirmed:

    • The Trump administration is paying developer Invenergy $765 million to cancel four offshore wind leases.
    • This agreement is the third deal of its kind struck by the Interior Department.
    • The administration has spent roughly $2.5 billion to get companies to abandon wind projects.

    Still unconfirmed:

    • The administration is systematically undoing Biden-era investments in clean energy.
    confidence 100%

  2. Trump Administration Pays $765 Million to End Invenergy Wind Leases

    The Trump administration will pay developer Invenergy $765 million to abandon four offshore wind leases. This agreement includes a project off the California coast. Invenergy plans to shift its investments toward geothermal and natural gas projects.

    What's confirmed:

    • The Trump administration will pay Invenergy $765 million to walk away from four wind leases.
    • One of the canceled wind leases is located off the coast of California.
    confidence 100%

  3. Trump Administration Pays $765 Million to Cancel Four Offshore Wind Leases

    The Trump administration reached a settlement with developer Invenergy to terminate four offshore wind leases. The deal involves a $765 million payment to the company to abandon projects in the Atlantic and Pacific. Invenergy will instead invest in geothermal and natural gas projects.

    What's confirmed:

    • The Trump administration will pay developer Invenergy $765 million to terminate four offshore wind leases.
    • The canceled projects include leases in the Gulf of Maine, the New York Bight, and off the Central Coast of California.
    • Invenergy will redirect the funds toward geothermal and natural gas projects.
    • This is the third deal the Interior Department has made to pay firms to abandon offshore turbine plans.
    • The Trump administration has paid more than $2.5 billion to cancel offshore wind leases across multiple deals.
    • Federal permitting for offshore wind has been halted by the current administration.
    confidence 100%