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March 24, 2026

French company stops US offshore wind projects in $1B deal with Trump administration

  • TotalEnergies has agreed to what's essentially a refund of its leases for projects off the coasts of North Carolina and New York.
    • By JENNIFER McDERMOTT
    Associated Press

    The Trump administration will pay $1 billion to a French company to walk away from two U.S. offshore wind leases as the administration ramps up its campaign against offshore wind and other renewable energy.

    TotalEnergies has agreed to what's essentially a refund of its leases for projects off the coasts of North Carolina and New York, and will invest the money in fossil fuel projects instead, the Department of Interior announced Monday.


     
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