NEWS: With its latest wind buy-out, the Trump administration has spent $2.5B axing offshore leases.

The latest: Invenergy has agreed to give up four offshore wind leases in federal waters—in exchange for $765M from the Interior Department. (The developer was planning to build wind farms in the New York Bight, off CA’s coast, and in the Gulf of Maine.) This marks the third cancellation deal between the Trump administration and offshore wind developers. 

The alternative? Invenergy will pour that money into natural gas plants in the Midwest. These projects “can be delivered on a commercially reasonable timeline,” said Invergeny’s senior vice president for development. 

A major first: The company is also committing to spend some of the reimbursed funds on geothermal, something previous wind lease buyouts haven’t involved. (Meanwhile, Invenergy just bid on over 5K acres to develop geothermal in New Mexico…see below 👀). 

While we’re here: A MA district judge ruled that clean energy developers can continue challenging federal moves to hinder wind and solar projects.