RWE Takes $1.2B Deal to Exit U.S. Wind Projects

RWE is dropping its offshore wind projects in the United States after striking a $1.2 billion deal with President Donald Trump’s Department of the Interior, a move that adds fresh momentum to the administration’s effort to slow the industry’s growth. The German energy company said the agreement will push it toward conventional gas investments instead.

The company said it will put part of the money into a liquefied natural gas export terminal project in Louisiana, including $900 million for that project alone. RWE said it decided there was no workable path to permit the offshore wind projects in the country in the foreseeable future. As part of the agreement, it will give up leases off the California and Louisiana coasts and in the New York Bight.

RWE also said it plans to invest about €17 billion in the United States over the next six years to expand its generation capacity. The company framed the move as a business decision tied to the regulatory outlook, while the federal government cast the pact as a win for domestic energy security.

Interior Secretary Doug Burgum said in a post on X that Americans deserve an energy system based on common sense rather than one tied to costly subsidies. He said the department welcomed RWE’s agreement and its voluntary investment in projects that strengthen the nation’s energy security. The department did not present the deal as a setback; instead, it treated the shift as part of a broader energy strategy.