The Trump administration is paying nearly 1 billion dollars to TotalEnergies to abandon plans to build offshore wind farms in the Atlantic Ocean.

The Trump administration has announced that it will pay nearly 1 billion dollars to the French company TotalEnergies to abandon its plans to build offshore wind farms in the Atlantic Ocean. This decision aligns with the current administration's strategy, which has consistently tried to block renewable energy projects, especially wind projects, criticized by President Donald Trump.

The agreement is based on previous measures by the Department of the Interior, which suspended approvals for renewable energy projects. TotalEnergies will use the money to develop a liquefied natural gas plant in Texas, thus contributing to U.S. LNG exports to Europe.

Critics warn that this decision will lead to an energy deficit and will increase energy costs on the East Coast, while some energy companies express their desire to recover funds for the blocked projects.