RWE Reaches $1.22 Billion Deal with Trump Administration to Surrender U.S. Offshore Wind Leases

RWE has become the latest offshore wind developer to reach a settlement with the Trump administration, agreeing to relinquish its U.S. offshore wind leases in exchange for a $1.22 billion settlement while redirecting investment toward LNG and natural gas generation.

The agreement between RWE U.S. Offshore and the U.S. Department of the Interior covers offshore wind lease areas in the New York Bight, offshore California and offshore Louisiana. The company said it determined there is “no path forward” to permitting the projects in the United States for the foreseeable future.

Under the settlement, RWE will receive $1.22 billion to resolve its