The Trump administration approved nearly $900 million in reimbursements to two offshore wind leaseholders, Bluepoint Wind and Golden State Wind, to walk away from projects and not pursue new U.S. offshore wind development.

Bluepoint Wind’s lease was in early development off New Jersey and New York, while Golden State Wind is a floating project off California’s central coast; both projects are co-owned by Ocean Winds, a joint venture of EDP Renewables and Engie.

Global Infrastructure Partners agreed to invest $765 million of the pledged funds into a U.S. LNG facility, tying energy infrastructure investments to the wind lease terminations.

The moves reflect a broader energy-policy shift toward fossil fuels under the administration, framed as lowering costs and boosting reliability, despite ongoing legal and environmental debates.

The deals are part of a broader push favoring fossil fuels and domestic energy security, with supporters arguing they protect consumers while critics warn of economic and environmental trade-offs.

Industry backlash centers on lost electricity capacity and slowed clean-energy progress, with calls for a balanced, all-of-the-above approach to energy strategy.

Industry statements describe the settlements as providing investor clarity and disciplined capital allocation, with Ocean Winds executives emphasizing long-term value and reliable energy solutions.

Ocean Winds’ leadership reiterates a focus on baseload power and value for ratepayers, partners, and shareholders amid the wind-lease exits.

The report notes ongoing political and regulatory shifts affecting U.S. offshore wind under the current administration, with coverage from international outlets.

Critics, including Governor Maura Healey, argue wind can lower costs and boost energy independence, while officials claim wind is costly and subsidy-dependent.

Ocean Winds’ leadership, including Engie’s involvement, signaled willingness to engage with the administration and acknowledged the implications for their projects.

Environmental groups and Democrats criticized the TotalEnergies deal and broader strategy, accusing potential harm to the economy and environment; critics warned of higher electricity prices and stalled offshore wind.