RWE reaches $1.22 billion deal to cancel US offshore wind leases and invest in gas

German energy developer RWE has reached a $1.22 billion agreement with the Trump administration to cancel three offshore wind leases in United States waters. Under this deal, RWE will reinvest the funds into fossil fuel infrastructure. This move is part of a broader effort by the Trump administration, spending nearly $4 billion to stifle wind energy development. This shift from wind to gas investments may hinder renewable energy progress and could face potential legal challenges.