Invenergy in the news for a major project setback and leadership reshuffle this week—big wind and storage push hit by delays; exec changes hinted. Long story short: renewables giant tweaking strategy as delays bite.
Invenergy has agreed to terminate four offshore wind leases in federal waters in exchange for $765 million in reimbursements. The funds will be redirected to natural gas and geothermal projects in the Midwest and West, following the Trump administration’s stance against offshore wind development. The moves follow earlier terminations by TotalEnergies, Golden State Wind and Bluepoint Wind, and come as courts blocked previous attempts to halt offshore wind actions.