US offshore wind left adrift as Trump buys back leases

offshore wind

In yet another blow to the beleaguered US offshore wind industry, the Trump administration said last week it would pay developer Invenergy $765 million to walk away from four US wind leases, according to the LA Times newspaper.

The agreement with Chicago-based Invenergy marks the latest in a series of unprecedented settlements under which offshore wind developers have agreed to relinquish federal leases in return for reimbursements linked to investments in natural gas, liquefied natural gas (LNG) and other conventional energy projects.

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