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The US Department of the Interior said it would refund Global Infrastructure Partners and Golden State Wind for payments made to secure offshore wind development rights.
The Interior Department will refund offshore wind lease fees if companies invest in US fossil fuels.
KEY POINTS
- Global Infrastructure Partners must invest up to $765 million in a US LNG facility to qualify for reimbursement.
- Golden State Wind could receive up to $120 million if it invests in US oil, gas, or LNG projects.
- This policy shift follows a similar agreement with TotalEnergies and signals reduced government support for wind energy.
COMPANIES
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