The leading US offshore wind trade group has blasted a deal struck between French oil major TotalEnergies and the Trump administration that will see TotalEnergies pocket $1bn to hand back a pair of offshore wind leases.
Oceantic Network senior vice president of Policy and Market Affairs Sam Salustro said: “After failing to shut down offshore wind through strong-arm tactics and litigation losses, the administration is now spending $1 billion in taxpayer dollars to force developers out of the market-wrapped in a false narrative about affordability, reliability, and national security.”
Total will hand back its leases off the coast of North Carolinas and in the New York Bight and will scrap offshore wind development in the areas.
In exchange the company will invest the refunded lease fees in the development of a Texas LNG plant and other oil and gas production.
Salustro added that recent winter storms have shown that offshore wind power has kept rates down in the US’s northeastern states.
“This is political theatre meant to obscure the fact that offshore wind capacity is being pulled out of the pipeline when energy prices are skyrocketing, even as other offshore wind projects continue delivering reliable and affordable power to the grid,” Salustro said.
“Paying to remove affordable, homegrown energy out of the equation leaves American consumers struggling to pay their electricity bills.”