According to verified reports from June 2026, the Trump administration paid $765 million to wind energy developers to cancel offshore wind leases in the Atlantic Ocean. The payments were made to companies including Orsted and Equinor, as part of a broader policy shift away from renewable energy development.
The administration argued that the projects were economically unviable and posed risks to marine life and fishing industries. However, environmental groups criticized the move, stating it undermines U.S. climate goals and wastes taxpayer money.
The canceled leases were located off the coasts of New Jersey, New York, and Massachusetts. The $765 million figure was confirmed by the Department of the Interior in a statement released on June 18, 2026.
