RWE U.S. Offshore Resolves Lease Claims Covering New York, California and Louisiana Projects

RWE U.S. Offshore Resolves Lease Claims Covering New York, California and Louisiana Projects

(IN BRIEF) RWE U.S. Offshore has reached a US $1.22 billion settlement agreement with the U.S. Department of the Interior to resolve claims against the U.S. government and relinquish offshore wind leases in the New York Bight, off California, and off Louisiana. The company said it had invested more than US $1 billion in the leases and project development, but determined that there is no foreseeable path to permitting the U.S. offshore wind projects. RWE Americas will redirect capital toward other U.S. energy projects, including a US $900 million investment for an indirect 16 percent stake in the Louisiana LNG Project and a US $300 million turbine reservation agreement supporting future natural gas peaking capacity. The company plans to invest around €17 billion in the U.S. over the next six years, targeting an increase in generation capacity from approximately 13 GW today to 22 GW by 2031, while continuing to grow offshore wind activities globally.

(PRESS RELEASE) ESSEN, 7-Aug-2026 — /EuropaWire/ — RWE U.S. Offshore has reached a settlement agreement with the U.S. Department of the Interior to resolve claims against the U.S. government and relinquish its offshore wind leases in the New York Bight, off the coast of California, and off the coast of Louisiana.

The agreement provides for a settlement amount of US $1.22 billion.

RWE said the settlement allows the company to redeploy capital toward energy projects that can be advanced with greater certainty and that support reliable and affordable energy supply.

RWE U.S. Offshore originally secured the leases from the U.S. government as part of a long-term commitment to develop offshore wind capacity in American waters.

The company invested more than US $1 billion toward the leases and the development of the related projects.

The leases provided legal rights to develop offshore wind projects and reflected several years of planning, investment and cooperation with federal agencies.

Following a review of the projects, RWE determined that there is no foreseeable path to securing permits for these offshore wind developments in the U.S.

The settlement resolves RWE U.S. Offshore’s legal claims and provides settlement funds of US $1.22 billion.

The company said the resolution best serves the interests of its stakeholders and enables it to redirect resources toward energy projects with a clearer route to delivery.

RWE Americas and its affiliates will continue to invest capital across the U.S. to address rapidly growing energy demand.

This includes investment in LNG infrastructure through a US $900 million financial investment to acquire an indirect 16 percent stake in the Louisiana LNG Project.

The proceeds from RWE’s investment are expected to be used to support construction of the terminal.

RWE Americas is also advancing its flexible power generation activities in the U.S.

The company has signed a US $300 million turbine reservation agreement to secure future generating capacity in response to rising U.S. electricity demand.

RWE Americas is developing a pipeline of 15 natural gas peaking projects across target markets in the U.S.

The company said these investments are intended to help deliver affordable and reliable energy solutions, support American jobs, improve grid reliability and strengthen energy security.

RWE Americas has also announced plans to invest approximately €17 billion in the U.S. over the next six years.

Through this investment programme, the company aims to expand its generation capacity from around 13 GW across 27 states today to 22 GW by 2031.

In 2025, RWE Americas commissioned 2 GW of new power generation capacity in the United States.

RWE said it remains committed to growing its offshore activities globally.

The company is one of the world’s leading offshore wind developers, with 18 offshore wind farms currently in operation, four under construction and additional projects in development.

This includes 6.9 GW of capacity secured in the United Kingdom’s most recent offshore wind auction.

Through the settlement and the reallocation of capital, RWE Americas is reshaping its U.S. energy investment priorities while continuing to pursue offshore wind growth in international markets.

Note for editors:

Prior to the settlement with the DOI, RWE acquired National Grid Ventures (~27%) minority ownership interest in the joint venture Community Offshore Wind.

RWE

RWE is leading the way to a modern energy world. With its investment and growth strategy, RWE is contributing significantly to the success of the energy transition and the decarbonisation of the energy system. Around 20,000 employees work for the company in over 20 countries worldwide. RWE is one of the leading companies in the field of renewable energy. RWE is investing billions of euros in expanding its generation portfolio, in particular in offshore and onshore wind, solar energy and batteries. It is perfectly complemented by its global energy trading business. Thanks to its integrated portfolio of renewables, battery storage and flexible generation, as well as its broad project pipeline of possible new builds, RWE is well positioned to address the growing global demand for electricity, particularly driven by further electrification and artificial intelligence. RWE is decarbonising its business in line with the 1.5-degree reduction pathway and will phase out coal by 2030. RWE will be net zero by 2040. Fully in line with the company’s purpose – Our energy for a sustainable life.

Forward-looking statements

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Media Contacts:

Vera Bücker
RWE AG
Head of Media Relations
International & Finance
M +49 (0) 162 251 73 29
E vera.buecker@rwe.com

Stephanie Cathcart
RWE Americas
VP, Communications
T +1 512 979 3190
E stephanie.cathcart@rwe.com

SOURCE: RWE