This licensing and portfolio move follows RWE's agreement to surrender United States offshore wind lease areas in the New York Bight, offshore California and offshore Louisiana. The $1.22 billion settlement resolves the developer's claims against the federal government after it concluded that its projects had no foreseeable permitting path.
RWE said it spent more than $1 billion acquiring the leases and advancing development. It will receive the settlement payment and redirect capital to projects with greater certainty, including a $900 million indirect 16 percent stake in the Louisiana LNG export project and a $300 million gas turbine reservation.
The company also plans a pipeline of 15 natural gas peaking plants in the United States. RWE said it intends to invest about 17 billion euros in the country over the next six years and raise its United States generation portfolio from about 13 gigawatts to 22 gigawatts by 2031.
The agreement is the latest negotiated exit from United States offshore wind leasing under the Trump administration. Duke Energy agreed in June to terminate its Carolina Long Bay lease and redirect $129 million to power generation and grid investment, while other developers have reached similar settlements.
For the offshore wind supply chain, the lost lease areas reduce the project pipeline that had supported demand for Jones Act compliant installation vessels, feeder barges, port upgrades and domestic manufacturing. The capital shift also links the retreat from offshore wind directly to new LNG and gas generation investment.