The German energy company RWE has reached a $1.22 billion agreement with the US government to relinquish its offshore wind leases. Under the deal, RWE will redirect its investments towards fossil fuel projects instead of renewable energy development.

This agreement represents the fifth such deal made by the Donald Trump administration, which has been offering payouts to energy companies in exchange for abandoning renewable energy projects and shifting focus to fossil fuels.

The deal was announced on Thursday, August 6th, 2026, and reflects ongoing shifts in US energy policy under the current administration.

Sources