US has spent nearly $4 billion canceling offshore wind leases across five deals

The Trump administration has committed nearly $4 billion in taxpayer funds across five settlements canceling offshore wind leases, the latest being a $1.22 billion deal with Germany's RWE on August 6, 2026. RWE surrendered leases off New York, California, and Louisiana, citing no permitting path forward. The deals dismantle Biden-era wind buildout. A multistate lawsuit challenges their legality.