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Trump Pays $765 M to Cancel Wind, Boosts Gas, Geothermal

6/21/2026

Summary

Story summary

U.S. President Donald Trump administration reimbursed Invenergy $765 million to end four offshore wind leases.
The $765 million buyback will fund Midwest natural-gas plants and Western geothermal projects, Secretary Doug Burgum said.
Department of Energy (DOE)’s Solar Futures fact sheet projects solar will provide 45 percent of U.S. electricity by 2050.
Department of Energy (DOE) and National Renewable Energy Laboratory (NREL) report eight states have offshore-wind procurement mandates totaling 45,730 MW by 2040, despite rising costs.

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Story summary

U.S. President Donald Trump administration reimbursed Invenergy $765 million to end four offshore wind leases.
The $765 million buyback will fund Midwest natural-gas plants and Western geothermal projects, Secretary Doug Burgum said.
Department of Energy (DOE)’s Solar Futures fact sheet projects solar will provide 45 percent of U.S. electricity by 2050.
Department of Energy (DOE) and National Renewable Energy Laboratory (NREL) report eight states have offshore-wind procurement mandates totaling 45,730 MW by 2040, despite rising costs.