Overview
- The Interior Department announced on Wednesday that it will pay Invenergy $765 million to terminate four early‑stage offshore wind leases off New York, California and Maine.
- That payment is the latest in a series of buyouts this year that reporters say raise the total federal reimbursements for canceling U.S. offshore wind leases to roughly $2.5–$2.6 billion.
- Interior said Invenergy will use the funds to build natural gas power plants in five Midwestern states and to invest in geothermal projects in the Western United States.
- Seven states and industry groups have sued, arguing the administration misused a federal legal‑settlement fund and skipped required procedures, and courts have already restored some leasing authority even as buyouts continue.
- Developers, port communities and grid planners face near‑term losses of projected coastal capacity, potential local job and investment hits, and wider investor uncertainty about the future of U.S. offshore wind.