Interior paid RWE $1.22 billion to terminate its New York, California, and Louisiana offshore wind leases
On August 6, 2026, the U.S. Department of the Interior announced a $1.22 billion settlement with German energy company RWE under which RWE voluntarily relinquished its offshore wind leases in the New York Bight and off the coasts of California and Louisiana. Interior Secretary Doug Burgum welcomed the deal, and RWE said it would redirect $900 million into a stake in a Louisiana LNG terminal and $300 million into natural gas turbine reservations. The settlement is the fifth Trump administration lease-termination deal with an offshore wind developer, bringing total federal buyout payments to nearly $4 billion.
