Trump Administration to Pay $765 Million to Cancel 4 More Wind Projects

Live updates

1. 1d ago

   Trump Administration Pays Invenergy $765 Million to Cancel Wind Leases

   The Department of Interior reached a legal settlement to pay Invenergy $765 million from a taxpayer fund to terminate four offshore wind leases. This is the third such agreement, following previous deals worth $928 million and $885 million. Total spending to abandon these projects has reached roughly $2.5 billion.

   What's confirmed:

   • The Trump administration will pay Invenergy $765 million to cancel four offshore wind leases.
   • This is the third offshore wind cancellation deal by the administration.
   • Previous agreements were worth $928 million and $885 million.
   • The total cost to abandon these wind projects is approximately $2.5 billion.
   • California notified the Department of the Interior and Golden State Wind of its intent to sue over a terminated lease off the Central Coast.

   Still unconfirmed:

   • Invenergy accepted the buyout in exchange for new gas projects.
   • Invenergy will still build the 800-mile Grain Belt transmission line for land-based wind and solar energy.
   confidence 100%
2. 3d ago

   Trump Administration Pays $765 Million to Cancel Four Wind Leases

   The Trump administration reached a settlement with Invenergy to terminate four offshore wind leases off New York. This is the third such agreement by the Interior Department. Total spending to abandon wind projects has reached roughly $2.5 billion.

   What's confirmed:

   • The Trump administration will pay Invenergy $765 million to cancel four offshore wind leases off the New York coast.
   • The Interior Department has spent roughly $2.5 billion across three deals to get companies to abandon wind projects.

   Still unconfirmed:

   • Invenergy will use the settlement funds for geothermal projects and natural gas plants in Missouri, Kansas, Iowa, Wisconsin, and Indiana.
   confidence 100%
3. 5d ago

   Trump Administration to Pay Invenergy $765 Million to Scrap Wind Leases

   The Trump administration announced a settlement to pay developer Invenergy $765 million. This agreement terminates four wind leases located off the New York coast. Senators Alex Padilla and Chuck Schumer have criticized the move.

   What's confirmed:

   • The Trump administration announced a reimbursement settlement agreement with Invenergy to terminate four wind leases off the coasts of New York.
   • The settlement payment totals $765 million.

   Still unconfirmed:

   • The administration is paying to make wind power go away in California.
   • The action aims to prioritize fossil fuels over wind energy growth.
   confidence 90%
4. 7d ago

   Trump Administration Pays $765 Million to Cancel 4 Invenergy Wind Projects

   The Trump administration reached a settlement to pay Invenergy $765 million to terminate four offshore wind leases. This action aims to limit wind energy growth to prioritize fossil fuels. The deal is part of a broader effort to reverse clean energy investments from the Biden era.

   What's confirmed:

   • The Trump administration is paying $765 million to Invenergy to cancel four offshore wind leases.
   • The administration intends to discourage wind energy expansion in favor of fossil fuels.

   Still unconfirmed:

   • The administration is systematically undoing Biden-era clean energy investments.
   confidence 90%
5. 7d ago

   Trump Administration to Pay $765 Million to Cancel 4 Offshore Wind Leases

   The Trump administration reached a settlement with energy developer Invenergy on Wednesday. The deal pays $765 million for the company to surrender four offshore wind leases. This marks the third such agreement by the Interior Department to abandon wind projects.

   What's confirmed:

   • The Trump administration will pay developer Invenergy $765 million to walk away from four U.S. wind leases.
   • The affected projects were located in the Gulf of Maine, the New York Bight, and off the Central Coast of California.
   • This is the third deal of its kind struck by the Interior Department to pay firms to abandon offshore turbines.
   • The Trump administration has halted all federal permitting for offshore wind.
   • Invenergy will instead invest in fossil fuel and geothermal projects.
   • Total payments by the Trump administration to developers for canceling offshore wind leases now exceed $2.5 billion.

   Still unconfirmed:

   • The strategy aims to impede offshore wind farm development.
   • The payments are illegal bribes intended to raise electricity prices.
   confidence 100%