Two offshore wind developers will give up federal leases and instead commit funds to fossil fuel projects under agreements with the Trump administration, the Interior Department said Monday.
The deals mark the latest step in the administration’s push to stymie the nascent US offshore wind industry opposed by President Donald Trump and boost investment in fossil projects.
Bluepoint Wind, which is partially owned by investment firm BlackRock, Inc., and Golden State Wind will relinquish their leases and be reimbursed for costs, according to the department. The moves come in exchange for plans by the companies to direct hundreds of millions ...
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