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Trump administration to pay $1 billion to scrap offshore wind projects. The administration of Donald Trump will pay nearly $1 billion in taxpayer funds to TotalEnergies to abandon offshore wind farm projects. The deal cancels plans for wind developments off New York and North Carolina that could have generated over 4 gigawatts of electricity. The move signals a new strategy: paying companies to halt renewable energy projects before construction begins. The U.S. Department of Justice will reimburse the company for federal leases acquired under the previous administration. TotalEnergies will instead invest in liquefied natural gas infrastructure in Texas and expand oil and shale operations in the U.S. Interior Secretary Doug Burgum defended the decision, calling offshore wind costly and unreliable. The decision reflects a broader shift away from renewable energy in favor of fossil fuel development.
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