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Trump administration pays $900m to scrap two more offshore wind projects

The Trump administration has struck two more deals with energy companies to quit their US offshore wind projects, reimbursing Bluepoint Wind and Golden State Wind nearly $900m in total to cancel their leases.

Under the agreements, Bluepoint Wind and Golden State Wind will end their offshore wind leases and commit to shutting down plans for any future US offshore wind projects.

Bluepoint Wind is an early‑stage offshore wind proposal off New Jersey and New York, while Golden State Wind is a floating offshore wind project planned for California’s central coast.

The US Department of the Interior said the move follows the same model as its recent $1bn buyout of French energy giant TotalEnergies, which walked away from leases off the coasts of North Carolina and New York in March. TotalEnergies agreed to effectively return those leases and redirect the funds to fossil fuel investments.

Interior secretary Doug Burgum defended the latest deals, claiming that the offshore wind leases were only viable with heavy taxpayer subsidies.

“Now that hardworking Americans are no longer footing the bill for expensive, unreliable, intermittent energy projects, companies are once again investing in affordable, reliable, secure energy infrastructure,” Burgum said.

Under the terms, Bluepoint Wind’s lease will be cancelled, and the company reimbursed up to $765m, which Global Infrastructure Partners, part of BlackRock and a partner in Bluepoint, has pledged to invest in a US‑based LNG facility.

Golden State Wind will be eligible to recover about $120m in lease fees after investing the same amount in oil and gas assets, related infrastructure or LNG projects along the Gulf coast. Neither venture will pursue new offshore wind developments in the United States.

Both Bluepoint and Golden State were planned as major offshore wind installations, each capable of powering more than 1m homes and helping New Jersey, New York, and California meet clean‑energy targets.

“The Department of Justice is committed to working with parties to reach agreements that are in the best interests of the nation and the American people – protracted litigation benefits neither, and I am proud to have helped facilitate today’s historic deals that advance the president’s Energy Dominance Agenda,” said associate attorney general Stanley E. Woodward.

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