Trump Administration Pays Invenergy to Relinquish Offshore Wind Leases
The Trump administration is compensating Invenergy affiliates to relinquish their rights to four offshore wind energy leases. The Interior Department announced on Wednesday that this settlement agreement will redirect the firm's investments towards gas plants and geothermal energy projects instead of offshore wind development.
The Trump administration is paying a company to abandon its rights to develop offshore wind energy. This move is part of an agreement for the firm to instead invest in gas plants and geothermal energy.
The Interior Department confirmed on Wednesday that it had finalized a settlement agreement with affiliates of Invenergy. Under the terms of this agreement, Invenergy will surrender four offshore wind leases.
(Source: The Hill)
