Interior Department's RWE settlement channels $1.2B from offshore wind into LNG and gas peakers

The Interior Department negotiated a $1.22 billion settlement with RWE to cancel its US offshore wind leases near New York, California, and Louisiana. RWE will spend $900 million on a 16% stake in a Louisiana LNG project operated by Woodside Energy and $300 million on 15 natural gas peaker plants across the US. This is the fifth such deal, bringing total taxpayer spending on cancelling renewable projects to roughly $4 billion.