German energy giant RWE has reached a $1.22 billion deal to cancel its US offshore wind leases and redirect investment toward natural gas. This transaction is part of a series of lease buyouts orchestrated by the Trump administration, which has now spent over $2.5 billion canceling renewable energy contracts awarded through competitive bidding. TotalEnergies, Ocean Winds, and Invenergy previously obtained similar refunds, all conditioned on investments in fossil fuels. Over fifty organizations urged RWE to halt these negotiations, arguing there is no legal basis for refunding competitively auctioned leases.
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