Germany’s RWE drops US offshore wind projects in deal with Trump

German energy company RWE is cancelling several planned offshore wind projects in the United States after agreeing to a $1.22 billion settlement with the administration of President Donald Trump, the company announced on Thursday. In a statement, RWE US Offshore revealed it had reached an agreement with the U.S. Department of the Interior to relinquish its offshore wind leases off the coasts of New York, California, and Louisiana.

The company had invested over $1 billion in securing these leases and developing the projects. RWE concluded that there was no viable path to permit these projects in the U.S. for the foreseeable future. The company now intends to reallocate its investment towards liquefied natural gas infrastructure and other gas projects within the United States.

President Trump, known for his skepticism towards wind power and his preference for coal-generated electricity, has frequently disparaged wind turbines and dismissed renewable energy policies as a "green scam." He has strongly opposed offshore wind initiatives. U.S. Secretary of the Interior Doug Burgum, speaking to dpa, expressed that Americans "deserve an energy system built on common sense, not one dependent on costly subsidies or technologies that cannot meet our country's current demand."

He welcomed RWE's voluntary investment in projects that enhance national energy security, provide dependable baseload power, and assist in keeping electricity affordable for hardworking Americans today while supporting the nation's long-term energy future. An Interior Department spokesperson added that offshore wind energy remains largely reliant on foreign supply chains.