The US administration will pay a billion dollars to a French company in exchange for abandoning two offshore wind energy projects, following its campaign against renewable energy.
TotalEnergies agreed with what in essence is the reimbursement of costs with projects on the coasts of New York and North Carolina.
The US government has tried block renewable energy projectsin this case offshore wind farms, but federal judges have annulled these decisions.
Environmental groups denounced the agreement with TotalEnergies as an alternative way to block these projects.
In a statement, the president of TotalEnergies, Patrick Pouyanné, stated that the company had renounced offshore wind development and that the reimbursement money would be applied towards development of oil and gas activities in the USA.
