An offshore wind company announced Thursday that it has reached a $1.2 billion settlement with the Trump administration, effectively abandoning development projects off the coasts of New York, California and Louisiana. The latest agreement brings the total amount spent on similar settlements to nearly $4 billion.
RWE U.S. Offshore stated that despite years of planning, investment and partnership with federal agencies, it determined there was no viable path forward to permit the projects in the foreseeable future.
