
President Trump's push for American energy dominance just landed another major win.
German energy giant RWE has agreed to give up three federal offshore wind leases in a $1.22 billion settlement with the Trump administration, closing the book on projects off New York, California and Louisiana that had no foreseeable path to construction.
The agreement does more than cancel a trio of troubled wind leases. It redirects the company's investment toward liquefied natural gas, natural-gas power plants and critical energy equipment that can support reliable power on demand.
RWE says reached .22 bln deal to cancel US offshore wind leases and invest in gas https://t.co/DON6d5Nk7Z https://t.co/DON6d5Nk7Z
— Reuters (@Reuters) August 6, 2026
According to RWE, the company will relinquish lease areas in the New York Bight, off California and off Louisiana after investing more than $1 billion in offshore wind leases and development.
RWE said it reached the decision after determining that there was no foreseeable path to obtaining the permits needed to build the projects. The settlement gives the company $1.22 billion






