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The Trump administration proposes $1B to cancel NY and NC offshore wind leases, compensating TotalEnergies to shift to Texas gas projects.
The Trump administration is reportedly considering a nearly $1 billion deal to cancel offshore wind leases for projects off New York and North Carolina, offering TotalEnergies compensation to abandon plans and instead invest in Texas natural gas infrastructure.
The proposed settlements, which would reimburse the company for its lease bids, come after multiple court rulings blocked earlier attempts to halt the projects.
The move reflects a broader shift toward fossil fuels, despite legal and financial risks, and underscores ongoing policy changes affecting renewable energy development.
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La administración Trump propone $ 1B para cancelar los arrendamientos eólicos marinos de NY y NC, compensando a TotalEnergies para cambiar a proyectos de gas en Texas.