RWE Vineyard will abandon offshore wind projects in US after a $1.2bn payout deal with Trump's Department of the Interior. It will reinvest the sum into conventional gas projects, including $900m in an LNG export terminal in Louisiana.

RWE relinquishes leases off California, Louisiana coasts and New York Bight. The company plans to invest €17bn over six years to grow its generation capacity in the US.

Interior Secretary Doug Burgum said Americans deserve an energy system built on common sense, not costly subsidies, and welcomed RWE's voluntary investment to strengthen energy security. The deal follows Trump's push to halt offshore wind, labeling them "big, ugly windmills" dangerous to wildlife.

Similar agreements this year include a $129bn deal with Duke Energy and a settlement with Total Energies, redirecting funds to LNG plants and conventional oil projects.