US Ends Two Offshore Wind Leases for Fossil Fuel Funds
The Interior Department reached a deal to terminate two offshore wind leases in exchange for 885 million dollars in domestic fossil fuel investments today.
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The administration of the United States has finalized an agreement to terminate two major offshore wind leases in exchange for $885 million in committed investments toward domestic fossil fuel projects. This move marks a significant shift in federal energy policy, targeting developments in both the Atlantic and Pacific oceans. The affected projects were managed by Ocean Winds, a joint venture between France-based ENGIE and Portugal-based EDP RENOVAVEIS SA.
