US offshore wind contraction deepens as two more developers accept federal lease buyout
Two additional offshore wind developers have agreed to accept US government refunds in exchange for relinquishing their leases and redirecting reimbursed fees toward fossil-fuel development, per Windpower Monthly. Ocean Winds separately confirmed its own refund deal, further shrinking the active US offshore pipeline. The cumulative lease withdrawals represent a structural shift in US offshore wind risk that asset managers and project financiers with exposure to the sector should reassess. Windpower Monthly also reports the deals require reinvestment in fossil fuels, a condition with potential reputational and ESG-reporting implications for counterparties.
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