Trump administration spends $765M to cancel 4 offshore wind leases, totaling $2.6B in abandoned projects
By
Joseph Zeballos-Roig
Summary
The Trump administration is spending $765 million to cancel four additional offshore wind farm leases, bringing the total cost of abandoned offshore wind projects to $2.6 billion. The administration argues the leases were based on flawed assumptions about taxpayer subsidies and national security, and is systematically reversing Biden-era clean energy investments. The cancellations represent a major setback for U.S. offshore wind development.
Source
bskyTrump administration spends $765M to cancel 4 offshore wind leases, totaling $2.6B in abandoned projectsmoneywise.comKey quotes
· 3 pulledThe offshore wind leases were sold under the assumptions that taxpayers would indefinitely subsidize costly, unreliable projects and that no national security concerns were implicated - both assumptions have since been proven false
This administration is systematically undoing Biden-era investments in clean energy
The total cost of abandoned offshore turbine projects now stands at $2.6 billion
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