Trump administration to pay Germany's RWE $1.2bn to halt US wind projects
The Trump administration has agreed to pay German energy giant RWE $1.2bn to halt its offshore wind projects in the United States. The deal is the latest in a string of payouts cancelling wind energy developments, a power source Trump has long derided.
The US government will pay German energy company RWE $1.2bn under a deal in which the firm will abandon planned offshore wind projects off the US coast. The agreement is the latest chapter in the Trump administration's wider campaign against the wind energy sector.
President Trump has repeatedly criticised wind power since taking office and ordered a halt to new turbine permits in federal waters. The payment to RWE follows several similarly cancelled projects, deepening uncertainty for investors in the renewable energy sector.
Critics argue that such payouts burden taxpayers and delay the United States' energy transition goals. RWE said in a statement that the deal would prompt the company to reassess its broader US investment strategy.
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