Lates News

The Department of Homeland Security announced on Monday that Bluepoint Wind and Golden State Wind, two offshore wind developers, will abandon federal leasing agreements and receive compensation. In exchange, these companies plan to invest hundreds of millions of dollars into fossil fuel projects. These agreements mark the latest move by the Trump administration to curb the emerging offshore wind industry in the United States (which has faced opposition from Trump) while promoting increased investment in fossil fuel projects. These agreements are similar to one announced by the government last month, in which the Trump administration lifted $1 billion in offshore wind leasing rights held by Equinor and its partners in order to redirect investments towards American oil and gas projects.