An anonymous reader quotes a report from the BBC: German energy company RWE has said it will abandon its offshore wind projects in the U.S. after reaching a $1.2 billion payout deal with President Donald Trump's Department of the Interior (DoI). RWE said that it will now reinvest the sum into conventional gas projects, including $900 million in a liquefied natural gas (LNG) export terminal project in Louisiana. "After careful consideration, it was determined there is no path forward to permit these projects in the US for the foreseeable future," the company said in a statement. RWE said it has agreed to relinquish its leases off the California and Louisiana coasts as well as in the New York Bight. Overall, the German firm plans to invest...
Read the full article at the source.
Comments (0)
No comments yet. Be the first to comment!