Under the agreement #Invenergy will voluntarily surrender 4 leases in federal waters for #WindFarms that would have been located in the New York Bight, off the Central Coast of California & in the Gulf of Maine. All of those projects were in the early stages of development & had little chance of moving forward under the #Trump admin, which has halted all federal permitting for offshore #wind.
#EnergyCrisis #FossilFuels #ClimateCrisis #ClimateChange #Republicans #GOP #TaxpayersMoney
The government will then reimburse Invenergy $765 million, or somewhat less than what the company had paid for the leases under the #Biden admin.
In exchange, #Invenergy said it would put that money toward the development of at least 5 new natural #gas fired #PowerPlants in the #Midwest, as well as in geothermal projects in the Western #US.
#Trump #EnergyCrisis #FossilFuels #ClimateCrisis #ClimateChange #Republicans #GOP #TaxpayersMoney #wind #RenewableEnergy