RWE Abandons US Offshore Wind After $1.2bn Payout Deal
German energy giant RWE has announced it will terminate its offshore wind contracts in the United States after striking a $1.2 billion (≈£892 million) settlement with President Donald Trump’s Department of the Interior.
The payment will be redirected into conventional gas projects that include a $900 million LNG export terminal in Louisiana and other gas‑fueled investments.
'No path forward to permit these projects in the US for the foreseeable future,' RWE said in a statement.
The deal also covers RWE’s leases along the California and Louisiana coasts, as well as the New York Bight. Interior Secretary Doug Burgum welcomed the move, saying Americans merit an energy system built on "common sense" rather than costly subsidies.
This agreement is part of a broader strategy by the Trump administration to curb offshore wind, following similar pacts with TotalEnergies and Duke Energy earlier this year.
Over the next six years, RWE still plans to invest roughly €17 bn in the US to grow its generation capacity, according to the company.
