The Trump administration is canceling four offshore wind leases held by Invenergy LLC and issuing a $765 million refund to the company, according to reports from Bloomberg and the Financial Post. The leases involved are described as totaling $765 million in value. The actions are presented as part of the White House’s broader effort to limit or block new offshore wind development.
Bloomberg reports that the cancellation is underway for the four leases and frames it as another step in stopping additional offshore wind projects. The Financial Post similarly reports the administration’s plan to cancel the leases and refund Invenergy, citing a person familiar with the matter. Both accounts identify Invenergy as the private developer holding the leases and agree that the refund amount is $765 million.
The reports do not add further details on timing, the legal mechanism used to terminate the leases, or the specific geographic areas covered by the cancelled contracts.
