White House to pay TotalEnergies $1 billion to kill off East Coast wind farm projects
By Holly Ellyatt
Published on March 24, 2026.
The White House has agreed to pay TotalEnergies $1 billion to abandon East Coast wind farm projects deemed "costly". The French energy giant's investment will be redirected towards U.S. LNG production. The Department of the Interior (DOI) announced that the company will be reimbursed up to the amount they paid in lease purchases for offshore wind. The agreement comes as the Iran conflict continues to disrupt global oil and gas supplies, making the US a crucial supplier for markets in Asia and Europe.
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