Story perspectives

RWE drops offshore wind for LNG after $1.2 B payout

8/7/2026

Summary

Story summary

RWE will abandon its offshore wind projects after receiving a $1.2 billion payout from the U.S. Department of the Interior.
RWE will redirect $900 million to a Louisiana LNG export terminal and surrender wind leases off California, Louisiana and the New York Bight.
RWE plans to invest about €17 billion ($19.6 billion) in U.S. generation capacity over the next six years.
Interior Secretary Doug Burgum said the agreement strengthens national energy security.

History

Historical Context

1973 OPEC cuts and the Arab oil embargo cut U.S. oil imports by about 25%, leading President Richard Nixon to create the Federal Energy Office to coordinate the response. The crisis forged a lasting energy-security mindset. In 2024 German utility RWE, urged by North Dakota Interior Secretary Doug Burgum, abandons offshore wind to fund a $900 million Louisiana LNG terminal, echoing the 1970s fossil-fuel shift.

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Story summary

RWE will abandon its offshore wind projects after receiving a $1.2 billion payout from the U.S. Department of the Interior.
RWE will redirect $900 million to a Louisiana LNG export terminal and surrender wind leases off California, Louisiana and the New York Bight.
RWE plans to invest about €17 billion ($19.6 billion) in U.S. generation capacity over the next six years.
Interior Secretary Doug Burgum said the agreement strengthens national energy security.

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