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Trump administration will buy back company's offshore wind project leases
['Jennifer Mcdermott', 'The Associated Press']
News – NBC Los Angeles
The Republican administration has been buying back offshore wind leases from energy companies as it seeks to discourage the expansion of wind energy in favor of fossil fuels.
RWE announced it is investing $900 million in a liquified natural gas project in Louisiana and spending $300 million on natural gas turbines.
The administration adopted this strategy after federal courts thwarted Trump’s efforts to stop offshore wind development through executive action.
Chicago-based Invenergy agreed in June to end its four offshore wind leases that were very early in development in exchange for reimbursements of lease fees totaling $765 million.
States that are losing offshore wind energy are suing.