Record quarter for offshore wind applications.
Cancellations
German utility RWE agreed with the US Interior Department to abandon all its US offshore wind projects in exchange for a $1.2bn payout, relinquishing leases off California, Louisiana and in the New York Bight and redirecting funds into fossil projects including $900m for a Louisiana LNG export terminal. It is the third such buyout after TotalEnergies and Duke Energy, whose $129m Carolina Long Bay termination came last month. Interior Secretary Doug Burgum called the deal a voluntary investment and said Americans deserve an energy system not dependent on costly subsidies.