Trump Administration Pays RWE $1.2 Billion to Halt US Wind Projects

RWE, a German energy company, has agreed to abandon its offshore wind projects in the US after reaching a $1.2 billion payout deal with the Trump administration's Department of the Interior (DoI).

The decision follows years of criticism from President Donald Trump, who has repeatedly denounced wind power as 'ugly' and called it a threat to wildlife.

RWE plans to reinvest the $1.2 billion payout into conventional gas projects, including a liquefied natural gas (LNG) export terminal project in Louisiana worth $900 million.

The company will also relinquish its leases off the California and Louisiana coasts as well as in the New York Bight.