The Maritime Executive6 Aug 2026Clients
Automatically composed with AI from the cited sources
It is the fifth such deal, bringing the Interior Department's total offshore-wind buyback commitments above $3.9 billion, according to the article. In exchange for the $1.22 billion settlement, RWE has agreed to invest $900 million for a 16% stake in the Louisiana LNG project, sign a $300 million turbine reservation agreement, and plans to invest roughly $19.6 billion in the U.S. over six years. The three relinquished leases are the New York Bight lease (for which RWE's joint venture bid $1.1 billion in 2022), the Canopy Offshore Wind lease off Northern California ($157.7 million, 2023), and the Lake Charles lease off Louisiana ($5.6 million, 2023). RWE stated there is no foreseeable permitting path for the projects.