The US government and TotalEnergies have signed an agreement to terminate the French energy giant's offshore wind farm projects in the United States, redirecting approximately $1 billion toward fossil fuel production. US Interior Secretary Doug Burgum announced the deal at CERAWeek in Houston, where he appeared alongside TotalEnergies CEO Patrick Pouyanné to finalize the agreement.

TotalEnergies had invested $928 million in two wind farm leases off the North Carolina and New York coasts, representing four gigawatts of planned offshore capacity. The company will now channel these funds into US natural gas projects, particularly the Rio Grande LNG plant. Burgum characterized the move as freeing up capital previously tied to what he called "subsidies pushing expensive weather-dependent offshore wind."

This reversal marks a significant shift from the Biden administration's climate policies, which had accelerated wind farm construction to combat climate change. TotalEnergies had previously suspended its US offshore projects in late 2024, citing the unlikelihood of obtaining federal licenses under the Trump administration. The company's CEO stated that offshore wind is "not the most affordable way to produce electricity" in the US, identifying natural gas-fired power plants as the preferred energy source.