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Euronews
Euronews
Doloresz Katanich

Trump administration to pay TotalEnergies $1bn to drop US offshore wind project

TotalEnergies Donald Trump United States Patrick Pouyanné

The Trump administration will pay $1 billion (€860mn) to the French energy giant TotalEnergies SE to walk away from two US offshore wind leases as it ramps up its campaign against offshore wind and other renewable energy.

TotalEnergies has agreed to what is essentially a refund of its leases for projects off the coasts of North Carolina and New York, and will invest the money in fossil fuel projects instead, according to their press statement.

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