RWE Reaches $1.22 Bln Deal To Exit U.S. Offshore Wind Projects

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The $900 million LNG stake is directed at an unnamed Louisiana liquefied natural gas project, while the $300 million turbine reservation agreement will underpin development of 15 natural gas peaker plants across the U.S. RWE paid $1.1 billion for its New York lease in 2022; the Louisiana and California leases cost a combined $163 million. The company said there was "no path forward" to securing permits for the projects. RWE plans to invest about $19.6 billion in the U.S. over the next six years.