Invenergy Settlement with the Trump Administration
The U.S. Department of the Interior announced that the Trump administration has reached a settlement with power project developer Invenergy, agreeing to refund $765 million. The settlement terminates four offshore wind leases located off the coasts of New York, California, and Maine.
Invenergy stated that the refunded amount will be redirected to construct natural‑gas power plants in four Midwestern states and to develop geothermal projects in the Western United States. This reallocation reflects the administration’s broader policy shift aimed at halting offshore wind development, which it deems costly and inefficient, while promoting domestic fossil‑fuel production and rolling back clean‑energy support measures.
The agreement is one of several settlements the administration has executed this year as part of its effort to curb U.S. offshore wind projects. Earlier in the month, seven U.S. states filed lawsuits challenging reimbursements tied to a comparable settlement with France’s TotalEnergies, underscoring ongoing legal disputes over the government’s energy‑policy reversals.
Key Points
- Refund amount: $765 million
- Leases affected: four offshore wind leases (NY, CA, ME)
- Planned use of funds: natural‑gas plants in four Midwestern states; geothermal projects in the Western U.S.
- Policy context: Administration seeks to stop offshore wind, boost fossil‑fuel output, and has faced state lawsuits over similar deals.