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US Pays $885M, Cancels Offshore Wind, Shifts to LNG

4/28/2026

50 4 Full Breakdown

Summary

Story summary

U.S. Interior Department announced Monday it will pay $885 million to cancel two offshore wind leases.
Bluepoint Wind will receive $765 million, invest it in LNG, and drop its 2.4 GW project.
Golden State Wind will receive $120 million, invest it in oil, gas or LNG, and abandon its 2 GW plan.
Both developers agreed not to pursue offshore wind projects in the United States, citing Doug Burgum’s claim the shift will lower utility bills.

History

Historical Context

After BOEM’s 2015 offshore-wind lease sale raised $2.5 billion and the Obama administration’s 2020 goal of 3 GW fell to just 0.5 GW, the sector has struggled—exemplified by Ørsted’s 2023 cancellation of Ocean Wind 1. In 2024 Interior Secretary Deb Haaland ordered an $885 million refund to Bluepoint and Golden State Wind, a move Governor Doug Burgum says will shift funds to LNG and oil, further delaying U.S. offshore-wind growth.

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Story summary

U.S. Interior Department announced Monday it will pay $885 million to cancel two offshore wind leases.
Bluepoint Wind will receive $765 million, invest it in LNG, and drop its 2.4 GW project.
Golden State Wind will receive $120 million, invest it in oil, gas or LNG, and abandon its 2 GW plan.
Both developers agreed not to pursue offshore wind projects in the United States, citing Doug Burgum’s claim the shift will lower utility bills.

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