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The Guardian - US
The Guardian - US
World
Maya Yang

Trump administration to pay German firm $1.22bn to cut offshore wind leases

offshore wind turbines
Wind turbines, including some from RWE's new Kaskasi offshore windfarm, are pictured north of Helgoland, Germany, in 2023. Photograph: Christian Charisius/Reuters

The German energy company RWE has reached a $1.22bn deal with the US government to relinquish its offshore wind leases and instead redirect funds towards fossil fuel investments.

The agreement marks the fifth deal the Donald Trump administration has struck with energy companies, offering payouts in exchange for abandoning renewable energy projects and redirecting investment towards fossil fuels.

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