THENATIONALPULSE (Pulse Wires) - Trump Admin Hands $1BN to French Firm to Cancel Wind Farm Deal.
The Trump administration announced a $928 million deal with French energy company TotalEnergies to cancel offshore wind farm leases in federal waters off New York and North Carolina. The agreement was revealed by the Interior Department and involves a refund of the lease payments made during the former Biden government. The post Trump Admin Hands $1BN to French Firm to Cancel Wind Farm Deal. appeared first on The National Pulse .
PULSE POINTS WHAT HAPPENED: The Trump administration is paying $928 million to TotalEnergies to cancel its offshore wind farm leases off the coasts of New York and North Carolina. WHO WAS INVOLVED: TotalEnergies, the Trump administration, the Interior Department, the Department of Justice (DOJ), and New York Governor Kathy Hochul (D). WHEN & WHERE: The deal was announced on Monday and involves federal waters off New York and North Carolina. KEY QUOTE: TotalEnergies CEO, Patrick Pouyanné, stated that offshore wind was deemed “not the most affordable way to produce electricity” and that pursuing it in the U.S. was too expensive. IMPACT: Funds intended for renewable energy are being redirected to fossil fuel projects, sparking…Open