US Nears $4 Billion in Offshore Wind Lease Cancellations

The Trump administration has committed nearly $4 billion across five settlements canceling offshore wind leases, the latest 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.