Billion-Dollar Offshore Wind Lease Buy-Back Threatens Affordable Energy, Wildlife Protections

WASHINGTON, D.C. (March 23, 2026) - The Interior Department announcement of a $1 billion offshore wind buy-back from TotalEnergies for projects off the coast of New York and North Carolina threatens progress towards affordable energy and healthier habitats for wildlife. The buy-back conditions require TotalEnergies to invest $928 million in an LNG plant in Texas, upstream conventional oil in the Gulf, and shale gas production, before receiving an equivalent reimbursement from the federal government for the two offshore wind lease areas they purchased in auctions in 2022.

"Ending offshore wind projects through lease buy-backs at a time of an increased demand for energy and worsening environmental conditions is out of touch with the energy and climate needs of our country," said Amber Hewett, senior director of offshore wind energy at the National Wildlife Federation. "This decision is not only a costly one for consumers who would have received reliable, affordable clean energy and will now be more reliant on the volatile fossil fuel market, but also a blow to wildlife and environmental-protection efforts. This direct replacement of offshore wind investments with oil and gas production is driving the country toward a dirtier, more expensive future."