American multinational energy company
Offshore wind leases held by Invenergy are being canceled by the federal government, with reimbursements totaling $765 million. The funds will be redirected into natural gas and geothermal projects, amid a broader push to slow offshore wind development under the current administration. The moves follow earlier terminations of similar leases by TotalEnergies, Golden State Wind, and Bluepoint Wind.
Federal regulators have issued orders to regional grid operators to speed connections for large data centers while requiring transparency and rules to prevent ratepayers from subsidising grid upgrades. Tech firms and energy officials are defending faster hookups and new cooling tech; communities and experts are warning about water, electricity and local costs as data‑center buildouts surge.
Duke Energy has surrendered its federal offshore wind lease in the Carolina Long Bay area. The move, approved by the Interior Department, will see nearly $129 million redirected toward new generating capacity, potentially including nuclear and natural gas, with grid improvements to bolster reliability. Critics say the step undercuts offshore wind development and jobs.
RWE has relinquished its offshore wind leases in the US after a settlement with the Trump administration. The company will reinvest about $1.2 billion into a Louisiana LNG terminal and 15 natural gas peaker plants, while winding down projects on New York, California and Louisiana coasts. The move follows a pattern of government buybacks of offshore wind leases.