Full Breakdown
Trump Administration Pays $765 Million to Invenergy to Cancel Four Offshore Wind Leases
6/18/2026, 8:17:23 AM
Background & Context
Trump’s administration’s broader effort to halt offshore wind after courts blocked earlier attempts; prior buyouts (TotalEnergies, Golden State Wind/Bluepoint Wind) bring total spending near $2.6 bn.
Deal Overview
Invenergy will voluntarily terminate four offshore wind leases (New York Bight, California Central Coast, two Gulf of Maine sites) for a $765 m reimbursement. Funds will be used for natural-gas plants in Indiana, Wisconsin, Iowa, Kansas, Missouri and geothermal projects in Nevada, Idaho, California, Utah, New Mexico. Invenergy operates 14 natural-gas facilities, holds 45 geothermal leases covering 144,000 acres; the canceled projects were early-stage, with Leading Light Wind targeting 2.4 GW and the California lease about 2 GW.
Key Actors
Doug Burgum, Secretary of the Interior, leads the administration’s energy-dominance agenda.
Daniel Runyan, Invenergy’s senior vice president for development, presented the investment plan.
Hillary Bright, executive director of Turn Forward, and Rep. Jared Huffman (D-CA) voiced criticism.
Official Statements & Responses
The Interior Department framed the settlement as strengthening American energy security and lowering consumer costs by shifting to “reliable, affordable power.”
Invenergy emphasized the need for “baseload power” and “commercially reasonable timelines” to meet rising electricity demand, especially from AI data centers.
The Justice Department reviewed the agreement for procedural compliance.
Criticism & Opposition
Turn Forward argues the swaps do not replace regional capacity, leaving the Northeast and Mid-Atlantic vulnerable to higher rates and reliability gaps.
Congressional Democrats and seven states have launched investigations and lawsuits, alleging misuse of federal funds and procedural shortcuts.
Environmental groups say the move undermines state offshore-wind targets, such as California’s 25 GW goal by 2045.
Verbatim Quotes
> “Under President Trump, companies are shifting investment back toward dependable, secure energy infrastructure that can power our economy and lower utility costs.” — Doug Burgum, Secretary of the Interior
> “Replacing coastal offshore wind with geothermal or natural gas infrastructure in another region does nothing to address rising ratepayer affordability concerns, reliability challenges or potential gaps in power supply in the Northeast and mid-Atlantic,” — Hillary Bright, Executive Director, Turn Forward
> “Donald Trump is using your tax dollars to make America more dependent on dirty, volatile fossil fuels,” — Rep. Jared Huffman (D-CA)
> “will deploy additional capital into projects that can be delivered on a commercially reasonable timeline and meet customer demand while continuing to evaluate opportunities as market conditions evolve.” — Daniel Runyan, Senior Vice President for Development, Invenergy
What’s Next
Invenergy intends to start construction of natural-gas plants in the Midwest and exploratory geothermal drilling in the West later this year. Ongoing legal challenges by seven states and New York may affect future lease-buyout agreements, and federal offshore-wind permitting remains suspended, leaving only three U.S. offshore wind leases active.
