Trump administration cancels US offshore wind projects, redirects $2.7 bn to gas and oil

The Trump administration paid roughly $2.7 billion to cancel nine offshore wind projects on the U.S. East and West coasts. Agreements with companies such as TotalEnergies, Invenergy, Duke Energy and others required the firms to abandon their wind concessions and reinvest the funds in natural‑gas and oil infrastructure. The payouts included $928 million to TotalEnergies for two projects in Carolina Long Bay and New York Bight, $765 million to Bluepoint Wind, $120 million to Golden State Wind and another $765 million to Invenergy subsidiaries, plus $129 million to Duke Energy.

The move reverses the Biden administration’s offshore‑wind push and has drawn criticism from renewable‑energy advocates, who note the setback for U.S. clean‑energy capacity and for European firms such as Iberdrola’s Avangrid, which is developing the Vineyard Wind project. Federal courts and Congress have been challenging the Trump administration’s actions, with judges restoring wind‑tax credits and other supportive rules, underscoring ongoing legal battles over the country’s renewable‑energy future.