California Offshore Wind Faces Setback as RWE Walks Away in $1.22B Deal

German energy company RWE agreed to abandon offshore wind leases off New York, Louisiana and California’s Humboldt coast in a $1.22 billion deal with the Trump administration, the largest of five such buyouts totaling about $2.7 billion aimed at steering projects away from offshore wind toward fossil fuels; the deal jeopardizes California’s 2045 offshore wind goals, leaving only two West Coast leases, as RWE reallocates funds to an LNG terminal stake and natural gas turbine development, a move critics say undermines clean energy and jobs while California pursues its climate targets.