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5d ago

Interior Strikes Two More Offshore Wind Buyouts Tied to Fossil Investments

The buyouts redirect nearly $2 billion from planned offshore wind to fossil projects under a strategy now drawing legal and congressional scrutiny.

The Revolution Wind central hub or substation for the offshore wind farm is visible Thursday, April 23, 2026, off the coast of Rhode Island. (AP Photo/Joshua A. Bickel)
A wind turbine base is visible at Sunrise Wind offshore wind farm that is under construction off the coast of Montauk Point, New York, Thursday, April 23, 2026. (AP Photo/Joshua A. Bickel)
Turbines are visible at Revolution Wind offshore wind farm that is under construction off the coast of Rhode Island, Thursday, April 23, 2026. (AP Photo/Joshua A. Bickel)
Interior Secretary Doug Burgum testifies during a Senate Committee on Appropriations, Subcommittee on Department of Interior, Environment, and Related Agencies hearing on the proposed budget for fiscal year 2027 on Capitol Hill Wednesday, April 22, 2026, in Washington. (AP Photo/Mariam Zuhaib)

Overview

  • Bluepoint Wind and Golden State Wind, which agreed Monday to end their federal offshore leases, will be reimbursed about $885 million only after making equal investments in U.S. oil, gas or LNG projects.
  • The deals cover about $765 million for Bluepoint off New York and New Jersey and roughly $120 million for Golden State off California, with both developers also pledging not to pursue new U.S. offshore wind projects.
  • The agreements follow a March buyout with TotalEnergies worth about $1 billion, bringing announced reimbursements to nearly $2 billion under the administration’s “Energy Dominance” push that cites cost, reliability and national security.
  • House Democrats escalated oversight Wednesday as Reps. Jared Huffman and Jamie Raskin demanded records from TotalEnergies and warned the company against accepting the payout while legal experts question the funding authority.
  • Courts previously blocked executive actions that halted wind construction, so the administration pivoted to negotiated lease buyouts, a shift that developers and labor groups say could cut expected clean power and jobs in New York, New Jersey and California.