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Fri, 07 Aug 2026

Fri, 07 Aug 2026 Trump administration to pay German firm $1.2bn to halt US wind projects

The RWE payout is the latest in a string of deals cancelling wind energy projects, a power source long derided by Trump.
German energy company RWE has abandoned its plans to build offshore wind farms in the US, opting instead to invest $1.2 billion in conventional gas projects. The company reached a payout deal with the Department of Interior (DOI) after determining that obtaining permits for the wind farms was unlikely. RWE will reinvest the funds into a liquefied natural gas export terminal project in Louisiana and other gas projects. In total, the company plans to invest approximately $19.6 billion in the US over the next six years. This deal marks the latest agreement between the Trump administration and a major energy company, following similar deals with TotalEnergies and Duke Energy. The decision is seen as a blow to the development of offshore wind power in the US, which has been hindered by regulatory hurdles and vocal opposition from President Donald Trump.