BusinessPostCorner.com
No Result
View All Result
Wednesday, September 23, 2026
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources
BusinessPostCorner.com
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources
No Result
View All Result
BusinessPostCorner.com
No Result
View All Result

US strikes $1.2bn deal to pay German firm to halt offshore wind projects

August 7, 2026
in Business
Reading Time: 2 mins read
A A
0
US strikes .2bn deal to pay German firm to halt offshore wind projects
ShareShareShareShareShare

Overall, the German firm plans to invest approximately €17bn (£14.5bn; $19.6bn) in the US over the next six years “to grow its generation capacity”.

Interior Secretary Doug Burgum said in a statement posted on X that Americans deserve an energy system built on common sense and not one dependent on “costly subsidies”.

“We welcome RWE’s agreement and voluntary investment in projects that strengthen our nation’s energy security,” he added.

The deal is the latest the Trump administration has reached this year as Trump, a vocal supporter of the fossil fuel industry, continues his push to halt offshore wind projects.

Trump has sought to boost government support for fossil fuels after campaigning for the presidency under the slogan “drill, baby, drill”.

Days after his return to office, he said “we’re not going to do the wind thing” and called them “big, ugly windmills” that were dangerous to wildlife.

In March 2026, the DoI reached a deal with TotalEnergies putting an end to the French company’s offshore wind projects in the US.

Instead, the firm agreed to reroute investment to build a LNG plant in Texas and to develop “upstream conventional oil” in the Gulf of Mexico.

The administration signed a similar $129bn (£96bn) agreement with Charlotte-based Duke Energy last month in exchange for the termination of the company’s offshore wind lease in the Carolina Long Bay area.

Credit: Source link

ShareTweetSendPinShare
Previous Post

Boards are calling retired CEOs back as succession pipelines run dry

Next Post

Bitcoin Price Reversal Signals $76,000 Target as L2 Presale Gains

Next Post
Bitcoin Price Reversal Signals ,000 Target as L2 Presale Gains

Bitcoin Price Reversal Signals $76,000 Target as L2 Presale Gains

No Content Available
BusinessPostCorner.com

BusinessPostCorner.com is an online news portal that aims to share the latest news about following topics: Accounting, Tax, Business, Finance, Crypto, Management, Human resources and Marketing. Feel free to get in touch with us!

Recent News

Pentagon admits that Iranian strikes damaged and destroyed hundreds of buildings at US bases

September 14, 2026
Iran issues long list of steep demands the US must meet before the Strait of Hormuz will be reopened

Iran issues long list of steep demands the US must meet before the Strait of Hormuz will be reopened

August 8, 2026

Our Newsletter!

Loading
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2023 businesspostcorner.com - All Rights Reserved!

No Result
View All Result
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources

© 2023 businesspostcorner.com - All Rights Reserved!