US pays RWE $1.2bn to abandon offshore wind projects and shift investment to gas
The US Department of the Interior has reached a $1.2bn deal with German energy company RWE under which the firm will abandon its offshore wind projects in American waters. The agreement covers leases off the coasts of California and Louisiana, as well as in the New York Bight. RWE said it sees no path forward to permit the projects in the US for the foreseeable future.Under the deal, RWE said it will redirect the payout into conventional energy projects in the United States. The company said $900m of the sum will go towards a liquefied natural gas export terminal project... [Continue Reading]
360LiveNews | 07 Aug 2026 11:30 LONDON
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