Full Breakdown
Trump Administration Pays $885 Million to Cancel Two Offshore Wind Projects
4/29/2026, 2:18:36 AM
Deal
The Interior Department announced $885 million in reimbursements to Bluepoint Wind and Golden State Wind for ending wind leases off New Jersey, New York and California, with Bluepoint receiving $765 million for an LNG facility funded by Global Infrastructure Partners, BlackRock affiliate and Golden State recovers $120 million after investing amount in oil-gas or LNG assets Canada Pension Plan Investment Board. Ceases wind.
Background
The Trump administration has opposed offshore wind, rescinding wind-energy areas and issuing an executive order vacated by a judge. Court rulings restored halted projects, prompting Interior Department to use lease-buyout agreements—a $1 billion TotalEnergies buyout—as an alternative to development.
Response
Interior Secretary Doug Burgum said leases relied on taxpayer subsidies and settlements will lower utility costs. Department of Justice stressed agreements serve interests and avoid litigation.
Criticism
Senate Minority Leader Chuck Schumer called the decision reckless, warned of price hikes and accused president of acting at donors’ behest. Representatives Jared Huffman and Jamie Raskin called TotalEnergies settlement outrageous and unlawful, questioning its legal basis. Environmental groups and Democrats have raised concerns about economic and national-security impacts of abandoning offshore wind.
Conflicts
Sources name Ocean Winds’ chief, a joint venture of EDP Renewables, as Michael Brown and Michael Brand. Payout is reported as $885 million and “nearly $900 million.” Bluepoint’s reimbursement is described as “up to $765 million” or “full amount.”
Next
California’s wind goal of 25 GW by 2045 remains, but four leases—including two off Morro Bay—are active. With all wind-energy areas rescinded, projects will need lease authorizations and may face further legal challenges.
Quotes
- “Now that hardworking Americans are no longer footing the bill for expensive, unreliable, intermittent energy projects, companies are once again investing in affordable, reliable, secure energy infrastructure.” — Doug Burgum, Interior Secretary
- “Once again, Donald Trump is attacking New York offshore wind at the behest of his fossil fuel donors with no justification.” — Chuck Schumer, Senate Minority Leader
- “There is no clear legal basis for this closed-door settlement, which allows the administration to subsidize its preferred energy sources regardless of what’s best for the American people.” — Rep. Jared Huffman & Rep. Jamie Raskin, co-authors of the April 6 letter
- “The Department of Justice is committed to working with parties to reach agreements that are in the best interests of the nation and the American people – protracted litigation benefits neither, and I am proud to have helped facilitate today’s historic deals that advance the president’s Energy Dominance Agenda.” — Stanley E. Woodward, Associate Attorney General
- “Our priority remains disciplined capital allocation and delivering reliable energy solutions that create long-term value for ratepayers, partners and shareholders.” — Michael Brown (or Michael Brand), CEO/Chief Executive of Ocean Winds North America
