The Trump administration continues to use taxpayer-funded settlements to end offshore wind development. Multiple outlets report that the government has reached agreements with offshore wind developers to relinquish leases and halt projects, with compensation payments to companies. Engadget describes the latest action as another $1.2 billion deal to cancel an offshore wind farm project, noting it is the fifth similar arrangement. TechCrunch reports the overall spending is close to $4 billion, stating the administration has persuaded developers to abandon 12 offshore wind leases. Taken together, the accounts indicate a pattern of successive cancellations involving large payments, culminating in the most recent $1.2 billion settlement. Across reports, the common elements are that the agreements involve offshore wind leases and that taxpayers fund the payouts. While the reporting focuses on the cost and number of leases affected, both sources describe the administration’s strategy as convincing or paying developers to step away from projects rather than permitting continued development.
Trump administration pays to cancel offshore wind projects, spending billions
The Trump administration continues to use taxpayer-funded settlements to end offshore wind development. Multiple outlets report that the government has reached agreements with offshore wind developers...
- The administration reaches settlements to cancel offshore wind development tied to leases.
- Taxpayers fund large compensation payments to developers to abandon wind projects.
- Engadget says the latest deal is worth $1.2 billion and is the fifth such deal.
- TechCrunch says the administration has spent nearly $4 billion overall.
- TechCrunch reports developers abandon 12 offshore wind leases.
This is the fifth such deal in which the president and his team has paid big to cancel a green energy contract.
1 hour agoThe Trump administration has now convinced developers to abandon 12 offshore wind leases. The latest will cost taxpayers $1.2 billion.
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