The Department of the Interior on June 17 announced a settlement agreement with affiliatesof Invenergy that will terminate four offshore wind leases and redirect approximately $765 million toward other energy projects, including natural gas and geothermal power generation.
According to the department, the agreement involves offshore wind leases in the New York Bight, off California’s Central Coast, and in the Gulf of Maine. The Department of the Interior said the offshore wind projects “required significant taxpayer support.”
Under the settlement, Invenergy will voluntarily terminate the leases and invest the equivalent amount into energy projects that federal officials say can provide more reliable and affordable power. Planned investments include natural gas-fired power plants in Indiana, Wisconsin, Iowa, Kansas, and Missouri, along with geothermal energy projects in the western United States. …
Invenergy Drops 4 Offshore Wind Leases Under Federal Settlement
