US Pays Nearly $4 Billion to Cancel Offshore Wind Projects

The Trump administration has spent nearly $4 billion canceling five offshore wind energy leases — agreements letting companies build wind farms at sea. The latest, a $1.22 billion deal with Germany's RWE on August 6, 2026, covered sites off New York, California, and Louisiana. RWE quit, saying it saw no path to permits. These cancellations undo Biden-era wind plans. A multistate lawsuit challenges their legality.