Another French Company In Talks with US Gov’t Over Offshore Wind Buyout

French utility Engie is in discussions with the Trump administration over a potential refund for its offshore wind project leases in the United States, according to Reuters.

The talks follow the company’s decision to pause three offshore wind projects under development and book impairments for its joint venture with EDP Renewables, Ocean Winds, amid challenges in the US market posed by the administration, which also include revoking federal approval for Ocean Winds’ flagship project in the US, the 2.4 GW SouthCoast Wind offshore Massachusetts.

In the US, the joint venture between Engie and EDP Renewables also owns leases for the 2.4 GW Bluepoint Wind offshore New York and New Jersey and the 2 GW floating wind project Golden State Wind in California.

The latest move follows a recent agreement the US government signed with TotalEnergies, which will be reimbursed USD 928 million (around EUR 806 million) for the offshore wind lease fees it paid in the US and redirect the refunded money towards oil and gas activities.

The arrangement is seen as a precedent for potential settlements between the Trump administration and offshore wind developers holding federal leases, and has recently received backlash from some
US Congress members.