# Trump administration has spent nearly $4B to cancel offshore wind farms

- URL: https://talkfuse.com/story/trump-administration-has-spent-nearly-4b-to-cancel-offshore-wind-farms/
- Published: 2026-08-07T15:11:03+00:00
- Updated: 2026-08-08T12:35:46+00:00
- Original publisher: TechCrunch
- Original article: https://techcrunch.com/2026/08/07/trump-administration-has-spent-nearly-4b-to-cancel-offshore-wind-farms/
- Topics: Entertainment, Music, Software, Technology

## Key points

- US pays RWE $1.2bn to abandon offshore wind leases
- Total cancelled-lease spending reaches $3.93bn
- RWE redirects funds towards LNG and gas turbines

## Summary

The Trump administration has agreed to pay German utility RWE $1.2 billion to relinquish offshore wind leases off California, Louisiana and New York, bringing its spending on cancelled leases to $3.93 billion across 12 projects. The decision matters because it replaces potential large-scale renewable generation with investment in fossil-fuel infrastructure and illustrates the administration’s effort to unwind offshore wind development.

RWE said it will put $900 million towards a minority stake in a Louisiana liquefied natural gas export terminal and use the remaining $300 million to buy gas turbines for 15 peaking power plants. The cancelled New York project alone was expected to generate more than 3 gigawatts, while the gas turbines may not be available until the early 2030s because of supply backlogs; RWE is nevertheless continuing offshore wind investment in the UK, where it recently acquired 6.9 gigawatts of capacity.

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Summarised by TalkFuse (https://talkfuse.com/). Quote the original publisher for the reporting and link this page for the summary and discussion.