Government pays RWE $1.2 billion to cancel offshore wind farms and invest in gas projects instead

The Interior Department agreed to pay RWE $1.22 billion to cancel its planned offshore wind farms near New York, California, and Louisiana. RWE will put $900 million into a Louisiana facility that exports liquefied natural gas, operated by Woodside Energy, and $300 million into 15 gas-fired power plants that run during high electricity demand. This is the fifth such deal, bringing total public spending on cancelling renewable energy projects to roughly $4 billion.