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Trump to pay RWE $1.2 billion for offshore leases

8/28/2026

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Story summary
  • U.S. President Donald Trump will pay RWE $1.2 billion to relinquish offshore wind leases in New York, California and Louisiana.
  • RWE will use $900 million of payout to buy a stake in a Louisiana LNG project from Stonespeak.
  • Stonespeak, led by Michael Dorrell, has Mar-a-Lago ties and received a $1 million donation to the Trump Vance Inaugural Committee.
  • Rep. Jared Huffman (D-CA) called the settlement wasteful, illegal and a corrupt charade.