23 Hrs
Source:
Los Angeles Times
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Offshore Wind Developer Leaves California in $1.22B Deal
German energy company RWE has agreed to abandon offshore wind leases off New York, Louisiana, and California’s Humboldt coast in a $1.22-billion deal with the Trump administration. This is part of a broader effort by the administration to steer companies away from offshore wind projects and toward fossil fuel investments, totaling about $2.7 billion in payouts. The move raises concerns among California officials and environmental advocates about its impact on the state’s 2045 offshore wind goals, which aim to generate 25 gigawatts of power. RWE's California lease, which had the potential for 1.6 gigawatts, is among the projects canceled, with experts criticizing the move for undermining clean energy development and climate goals.
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