A sign for the French company TotalEnergies is displayed at headquarters March 21, 2025, in La Defense business district outside of Paris. Thomas Padilla/AP
Thomas Padilla/AP
The Trump administration will pay $1 billion to a French company to walk away from two U.S. offshore wind leases as the administration ramps up its campaign against offshore wind and other renewable energy.
TotalEnergies has agreed to what’s essentially a refund of its leases for projects off the coasts of North Carolina and New York, and will invest the money in fossil fuel projects