Story perspectives

Interior spends $765 M to scrap offshore wind leases, build gas plants

6/18/2026

Summary

Interior Pays Invenergy

The U.S. Department of the Interior will pay Invenergy $765 million to cancel four offshore wind leases off New York, California and Maine.
Invenergy will use the money to build natural-gas plants in Indiana, Wisconsin, Iowa, Kansas and Missouri and to fund West geothermal projects.
Interior Secretary Doug Burgum said the deal supports baseload power, brings total offshore-wind buyout spending to about $2.5 billion, and reflects early-stage project status.

Summary

New York Sues

New York sues over the TotalEnergies offshore-wind buyout while Democrats in Congress probe lease-buyback deals.
California Energy Commission subpoenaed the Golden State Wind agreement in a state investigation.
Rep. Jared Huffman (D-San Rafael) condemned the buyout as taxpayer-funded dirty fossil fuels.
Turn Forward executive Hillary Bright warned that swapping offshore wind for geothermal or gas projects fails to address affordability or reliability.

Summary

Burgum Settles

Settlement provides partial reimbursement for wind leases that required significant taxpayer support.
Interior Secretary Doug Burgum said the settlement strengthens security, lowers costs under President Donald Trump’s Energy Dominance Agenda, and criticized the leases as based on a false assumption that taxpayers would subsidize costly, unreliable projects with no security risks.
Associate Attorney General Stanley Woodward said the deal revitalizes energy and national security by moving investment to natural-gas projects.

History

Historical Context

In 2015 the Interior’s Bureau of Ocean Energy Management conducted a competitive auction of twelve Atlantic lease blocks—including Vineyard Wind 1, which paid $135.1 million—to developers such as Ørsted and Equinor. The auction marked the nation’s first large-scale offshore-wind leasing effort, laying groundwork for today’s offshore energy initiatives.

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Interior Pays Invenergy

The U.S. Department of the Interior will pay Invenergy $765 million to cancel four offshore wind leases off New York, California and Maine.
Invenergy will use the money to build natural-gas plants in Indiana, Wisconsin, Iowa, Kansas and Missouri and to fund West geothermal projects.
Interior Secretary Doug Burgum said the deal supports baseload power, brings total offshore-wind buyout spending to about $2.5 billion, and reflects early-stage project status.

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