Trump Admin. Pays 3 Firms So Far to End U.S. Offshore Wind


   
Barani Krishnan
DTN Refined Fuels Market Reporter

   SECAUCUS, NJ (DTN) -- The Trump administration announced Monday that three 
firms had accepted compensation to abandon offshore wind leases in the U.S., as 
Bluepoint Wind and Golden State Wind joined TotalEnergies in receiving money in 
lieu of the developments.

   The three firms agreed instead to pursue fossil fuel projects that the Trump 
administration had prioritized for its energy agenda.

   "Now that hardworking Americans are no longer footing the bill for 
expensive, unreliable, intermittent energy projects, companies are once again 
investing in affordable, reliable, secure energy infrastructure," Interior 
Secretary Doug Burgum said in a statement.

   Bluepoint Wind and Golden State Wind will receive abandon U.S. offshore wind 
leases in exchange for $900 million. The payout to TotalEnergies was $1 billion.

   In December, the Trump administration announced that leases for all 
large-scale U.S. offshore wind projects now under construction will be paused 
immediately for "security" reasons -- a decision that impacted at least five 
such projects.

    

    

    




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