US, TotalEnergies reach 'nearly $1 bn' deal to end offshore wind projects [Yahoo! Finance]
TotalEnergies SE Ordinary Shares (TTE)
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Source: Yahoo! Finance
RONALDO SCHEMIDT/AFP/AFP The United States and TotalEnergies on Monday signed an agreement to end the French company's offshore US wind farm projects and redirect those funds towards fossil fuel production, with the US interior secretary saying the deal was worth "nearly $1 billion." US Interior Secretary Doug Burgum made the announcement at the annual CERAWeek conference in Houston, at an event where he appeared alongside TotalEnergies CEO Patrick Pouyanne, after which both men signed the agreement. "We're partnering with TotalEnergies to unleash nearly $1 billion that was tied up in a lease deposit that was directed towards the prior administration's subsidies that were pushing expensive weather-dependent offshore wind," said Burgum. Pouyanne welcomed the deal, saying it redirected TotalEnergies's $928 million investment in two wind farm leases off the North Carolina and New York coasts into US natural gas projects, in particular the Rio Grande LNG plant. French giant Tot
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- French company stops US offshore wind projects in $1B deal with Trump administration 1 / 2 [Yahoo! Finance Canada]Yahoo! Finance Canada
- French company stops US offshore wind projects in $1B deal with Trump administration [Yahoo! Finance]Yahoo! Finance
- Trump Administration to Pay $1 Billion to Energy Giant to Cancel Wind Farms [The New York Times]The New York Times
- Trump administration, energy developer announce end of U.S. offshore wind projects [Yahoo! Finance]Yahoo! Finance
- US, TotalEnergies to shift $1 billion from wind to oil and gas [Yahoo! Finance]Yahoo! Finance
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