Trump Administration Pays Invenergy $765 Million to Cancel Wind Leases

The Trump administration announced a $765 million agreement with Chicago-based Invenergy to buy back four offshore wind leases located off the coasts of California, Maine, and in the New York Bight. This deal is part of a broader strategy to discourage wind energy expansion in favor of fossil fuels after federal courts blocked previous executive attempts to halt wind development. As part of the settlement, Invenergy will redirect the funds into geothermal projects in the western U.S. and natural-gas-fired power plants in Indiana, Wisconsin, Iowa, Kansas, and Missouri.

This is the third such buy-back deal this year, bringing total government expenditure on similar lease terminations to nearly $2.6 billion. Previous agreements included payouts to TotalEnergies, Golden State Wind, and Bluepoint Wind. In California, the deal cancels the Even Keel Wind project off Morro Bay, marking the second California project cancelled via payouts following a previous deal with Golden State Wind LLC.

Secretary of the Interior Doug Burgum defended the move as a shift toward secure, dependable energy infrastructure and a necessary step to address national security concerns. However, the action has faced intense criticism from Democratic officials and environmental groups. Representative Jared Huffman and the California Energy Commission condemned the use of taxpayer funds to undermine clean energy growth, and the state is currently exploring legal remedies. The strategy has already prompted lawsuits from seven other states following a similar payment to TotalEnergies.