> not one dependent on "costly subsidies".
While paying out 1.2 billion dollars.
Art of the deal: Pay $1.2B in exchange for a $900M investment elsewhere.
> > not one dependent on "costly subsidies".
> While paying out 1.2 billion dollars.
for nothing. to literally replace some energy with no energy.
Oh that's not nearly the amount of fossil subsidies. Some say it's $31b/yr direct. If you factor in indirect costs like climate damage, health expenses, oil wars, etc, it's much higher. Renewables are much, much cheaper regardless of a little incentive, if there are any left.
https://www.theguardian.com/environment/2025/sep/09/fossil-f...
Mostly this is just about giving back the money RWE paid for the leases from the US government to build those turbines. Plus various fees. They could have went for suing for total profits too.
> RWE U.S. Offshore secured these leases from the U.S. government with a long-term commitment to develop offshore wind capacity in American waters and invested more than $1 billion toward the leases and the development of these projects. These leases provided legal rights to develop offshore projects and represented years of planning, investment, and partnership with federal agencies.
> After careful consideration, it was determined there is no path forward to permit these projects in the U.S. for the foreseeable future. The settlement resolves RWE U.S. Offshore’s legal claims and provides $1.22 billion in settlement funds.
https://www.rwe.com/en/investor-relations/financial-calendar...