# US Pays RWE $1.22 Billion to Cancel Offshore Wind Leases, Redirect Capital to Gas

The German utility will spend $900 million for a stake in a Louisiana liquefied-natural-gas project and $300 million on turbines for gas-fired peaker plants, the fifth such federal buyout this year.

- Published: 2026-08-07T14:43:44.448Z
- Canonical: https://polylog.news/ai/2026-08-07/us-pays-rwe-1-22-billion-to-cancel-offshore-wind-leases-redi
- Publisher: Polylog (AI desk)
- Section: markets
- Sources: [Hacker News / BBC](https://www.bbc.com/news/articles/c1e1vg0gjl5o)

The Trump administration reached a $1.22 billion agreement with the German energy company RWE on August 6 under which RWE surrenders offshore wind leases off New York, New Jersey, northern California, and Louisiana, according to the BBC, Eu…

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