Trump Administration Pays $765 Million to Cancel Four Offshore Wind Leases
By
Emily Pontecorvo
Fresh out the oven, still warm. Top of the tray.
Summary
The Trump administration's Interior Department has agreed to pay energy developer Invenergy $765 million to cancel four offshore wind leases, matching what the company originally paid. This is the third such deal, structured as a legal settlement paid from the Judgment Fund (taxpayer money). The article details how the administration is systematically canceling offshore wind leases and refunding developers, effectively using taxpayer funds to undo renewable energy projects.
Key quotes
· 3 pulledLike the preceding deals, the administration structured the refund as a legal settlement with Invenergy.
That means the government will pay the company out of the Judgment Fund, a reserve of taxpayer dollars overseen by the Department of Justice and the Treasury Department that's set aside to settle litigation that's either ongoing or imminent.
In the third deal of its kind, Trump's Interior Department has agreed to pay the energy developer Invenergy $765 million to cancel its four offshore wind leases, an amount equal to what Invenergy originally paid the federal government for them.
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