Utility Dive•about 1 month ago
Trump administration plans $1B buyout for offshore wind leases: NYT
- •The Trump administration is reportedly planning a $928 million buyout offer to TotalEnergies for its Carolina Long Bay and Attentive Energy offshore wind leases, which were acquired for $955 million in 2022.
- •This proposed action signals a significant policy shift and potential reversal of offshore wind development under a future Trump administration, introducing high political risk for renewable energy projects.
- •For developers and IPPs, this creates substantial uncertainty regarding the stability of long-term investments in offshore wind and the potential for government intervention to halt or cancel awarded projects.
financing