Overview
- The Interior Department struck agreements Tuesday with Bluepoint Wind and Golden State Wind to exit U.S. offshore projects, paying $765 million and about $120 million.
- Federal judges earlier let five large East Coast wind projects resume after government stop orders that cited national security.
- Both companies also agreed not to pursue new offshore-wind projects in the United States.
- With federal ocean wind areas rolled back by BOEM, the canceled plans—each sized to power more than a million homes—would need new leases to return.
- Exit payments are tied to fossil-fuel investments, including a pledged liquefied natural gas plant investment by Global Infrastructure Partners that Interior said it will reimburse.