The company has reached a $1.22 billion agreement with the US government, under which it relinquishes offshore wind farm lease rights in New York Bay and off the coasts of Louisiana and California, according to an RWE statement.
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US President Donald Trump, long skeptical of climate change and actively supporting the fossil fuel industry, pressured companies to halt several offshore wind farm projects. Other energy companies, such as the French firms Engie and TotalEnergies, have also abandoned projects in the US since Trump returned to power in 2025.
“After careful consideration, it was decided that there are no opportunities to obtain permits for these projects in the US in the near future,” said the German company.
The company stated that more than $1 billion had been invested in acquiring lease rights and developing planned offshore wind farms. The company now plans to reinvest these funds into gas projects in the US, “to meet rapidly growing energy demand,” rather than focusing on renewable energy.
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RWE said it will invest $900 million in a liquefied natural gas export terminal project in Louisiana and $300 million in flexible gas-fired power plants to meet peak electricity demand.
Overall, RWE said it plans to invest about €17 billion in the United States over the next six years to increase total electricity generation capacity from the current 13 GW to 22 GW by 2031.
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