Trump Administration Plans $1B Buyout for Offshore Wind Leases: NYT

vrt

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The Trump administration is willing to pay the French energy and oil giant TotalEnergies $1 billion if the company abandons two wind farm projects in the US. This is evident from court documents that the American newspaper The New York Times was able to review. In exchange for the compensation, however, TotalEnergies would have to invest in fossil fuel projects in Texas.

Génération-NT

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The Trump administration changes its shoulder rifle and offers a massive financial offer to TotalEnergies. On the table: nearly a billion dollars for the French giant to permanently abandon two major offshore wind farms projects in the United States. In return, the agreement would push the company to reinvest in natural gas infrastructure in Texas, marking a sharp energy shift.

latribune.fr

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By targeting 4 GW of wind projects off New York and North Carolina, the White House is using fiscal leverage to curb renewables for fossil fuels.