"The Trump Administration has signed deals with Bluepoint Wind and Golden State Wind to abandon their offshore wind farms, opting instead for investments in oil and gas projects."
"The government will provide dollar-for-dollar reimbursements for the leases, which were deemed only viable with substantial taxpayer subsidies, according to Interior Secretary Doug Burgum."
"Global Infrastructure Partners will invest up to $765 million into a liquefied natural gas facility, while Golden State Wind will recover approximately $120 million in lease fees for further oil and gas projects."
"These agreements signify a commitment to fossil fuels over clean energy, raising questions about the accuracy of President Trump's claims regarding climate change and renewable energy costs."
The Trump Administration has finalized agreements with Bluepoint Wind and Golden State Wind to terminate their offshore wind farm leases, totaling $885 million. Both companies will not pursue new offshore wind projects in the US. Bluepoint Wind will invest $765 million in a liquefied natural gas facility, while Golden State Wind will recover $120 million in lease fees for oil and gas projects. These agreements reflect a shift from clean energy to fossil fuels, challenging previous claims about climate change and renewable energy costs.
Read at Engadget
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