A 9.5-megawatt floating wind turbine deployed at the Kincardine Offshore Wind project, located off the coast of Aberdeen, Scotland. Photo: Principle Power

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PREVIOUSLY: 

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Press release from RWE:


RWE
U.S. Offshore has reached a settlement with the U.S. Department of
the Interior to resolve claims against the U.S. government and
relinquish its offshore wind leases off the coasts of New York,
California, and Louisiana. The settlement enables RWE to redeploy its
capital to accelerate value-accretive opportunities that deliver
reliable and affordable energy.


RWE
U.S. Offshore secured these leases from the U.S. government with a
long-term commitment to develop offshore wind capacity in American
waters and invested more than $1 billion toward the leases and the
development of these projects. These leases provided legal rights to
develop offshore projects and represented years of planning,
investment, and partnership with federal agencies.


After
careful consideration, it was determined there is no path forward to
permit these projects in the U.S. for the foreseeable future. The
settlement resolves RWE U.S. Offshore’s legal claims and provides
$1.22 billion in settlement funds. The company determined that this
resolution best serves the interests of its stakeholders and allows
it to direct resources toward energy projects that can be advanced
with certainty.


RWE
Americas and its affiliates will continue to deploy capital across
the U.S. to meet rapidly growing energy demand, including:



LNG
infrastructure: a financial investment of $900 million to acquire an
indirect 16% stake in the Louisiana LNG Project. RWE proceeds will
be used to fund the construction of the terminal.

Natural
gas turbine reservations: To support the expansion of its growing
flexible power generation work in the U.S., RWE Americas has signed
a $300 million turbine reservation agreement securing future
generating capacity to meet growing U.S. electricity demand. The
company is developing a pipeline of 15 natural gas peaking projects
across target markets in the U.S.


These
investments will help deliver affordable, reliable energy solutions
while supporting American jobs, enhancing grid reliability, and
strengthening energy security.

In
addition, RWE Americas has announced plans to invest approximately
€17 billion in the U.S. over the next six years to grow its
generation capacity from approximately 13 GW across 27 states today
to 22 GW by 2031. In 2025 alone, RWE Americas commissioned 2 GW of
new power generation capacity in the United States.


RWE
remains focused on growing its offshore activities globally. RWE is
one of the world’s leading offshore wind developers with 18 offshore
wind farms currently in operation, four under construction, and
additional projects in development – including 6.9 GW of capacity
secured in the UK’s most recent offshore wind auction.