{"id":5058,"date":"2026-08-06T23:44:21","date_gmt":"2026-08-06T23:44:21","guid":{"rendered":"https:\/\/crosscountrymovingteams.com\/?p=5058"},"modified":"2026-08-06T23:44:21","modified_gmt":"2026-08-06T23:44:21","slug":"rwes-1-22b-exit-marks-the-latest-in-trumps-billion-dollar-offshore-wind-buyouts-now-topping-3b-to-redirect-developers-to-fossil-fuels","status":"publish","type":"post","link":"https:\/\/crosscountrymovingteams.com\/?p=5058","title":{"rendered":"RWE\u2019s $1.22B exit marks the latest in Trump\u2019s billion-dollar offshore wind buyouts\u2014now topping $3B to redirect developers to fossil fuels"},"content":{"rendered":"
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The Department of Justice (DOJ) settlement with Germany-based RWE extends the effort initiated by President Donald Trump\u2019s personal disdain for offshore wind turbines. The slate of cancelations began with a $1 billion agreement in March with France\u2019s TotalEnergies, and additional deals followed to eliminate wind projects with Chicago-based Invenergy, Spain\u2019s Ocean Winds, the U.K.\u2019s Reventus Power, and BlackRock\u2019s Global Infrastructure Partners.<\/p>\n

Read more U.S. puts $25 million bounty on new leader of Mexico\u2019s most powerful cartel<\/a><\/p>\n

The RWE agreement includes the cancelation of the Community Offshore Wind project off New York and New Jersey, as well as additional leases off the coast of northern California and in the Gulf of Mexico.<\/p>\n

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Facing strong opposition from the Trump administration and potential lawsuits, RWE said in a statement, \u201cAfter careful consideration, it was determined there is no path forward to permit these projects in the U.S. for the foreseeable future.\u201d<\/p>\n

Instead, RWE agreed to invest the money in fossil fuels. Most notably, RWE will pay $900 million for a 16% stake in Woodside Energy\u2019s massive Louisiana LNG project. The liquefied natural gas export project was authorized last year and is expected to begin coming online in 2029, according to Australia-based Woodside.<\/p>\n

RWE said it\u2019s investing another $300 million in gas-fired turbines for U.S. power plant projects.<\/p>\n

RWE insisted it remains committed to developing offshore wind projects worldwide\u2014just not in the U.S. for now while facing staunch opposition from Trump.<\/p>\n

Read more Asia needs deeper energy markets if it\u2019s going to achieve its AI ambitions<\/a><\/p>\n

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However, the ongoing DOJ settlements to cancel wind projects face legal fights. In June, several states sued the federal government, arguing the \u201csham settlement\u201d agreements are unlawful and harm their states through the loss of clean energy projects\u2014especially at a time when power demand is surging thanks to the AI boom and broader electrification trends.<\/p>\n

California also has filed notices of intent to sue. The Environmental Defense Fund (EDF) said Aug. 6 the Trump administration is trying to kill the nascent offshore industry on the West Coast before it can get off the ground.<\/p>\n

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\u201cThe Trump administration is trying to completely throttle California\u2019s offshore wind industry\u2014saddling families and businesses with more expensive, polluting energy,\u201d said Katelyn Roedner Sutter, the EDF\u2019s California senior director. \u201cPaying companies to shut down massive sources of clean, reliable power while our state\u2019s electricity needs keep growing is a recipe for higher costs. Californians did not sign up for these wasteful payouts that mean higher bills, more pollution and less jobs.\u201d<\/p>\n

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Likewise, the Turn Forward offshore wind advocacy organization targeted Trump\u2019s attacks on East Coast wind.<\/p>\n

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\u201cThese buyouts are not one-for-one \u2018swaps\u2019 for another kind of energy,\u201d said Turn Forward executive director Hillary Bright. \u201cWhen you eliminate future utility-scale power sources from busy population centers, you need a clear Plan B to avoid future grid stress. Replacing coastal offshore wind with LNG in Louisiana does nothing to address rising ratepayer affordability concerns, reliability challenges, or potential gaps in power supply in the Northeast and mid-Atlantic.\u201d<\/p>\n

Read more Climate change is making Cape Cod a Tiger Shark habitat<\/a><\/p>\n

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The Trump administration has agreed to pay more than $3 billion to cancel offshore wind projects since March.<\/p>\n","protected":false},"author":1,"featured_media":5057,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[543],"tags":[],"class_list":["post-5058","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-offshore-wind"],"yoast_head":"\nRWE\u2019s $1.22B exit marks the latest in Trump\u2019s billion-dollar offshore wind buyouts\u2014now topping $3B to redirect developers to fossil fuels - Cross Country Moving Team<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/crosscountrymovingteams.com\/?p=5058\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"RWE\u2019s $1.22B exit marks the latest in Trump\u2019s billion-dollar offshore wind buyouts\u2014now topping $3B to redirect developers to fossil fuels - 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