France's TotalEnergies Walks Away From U.S. Offshore Wind

By Joshua Kirby

TotalEnergies said it would no longer develop any offshore wind-power projects in the U.S. amid efforts by the Trump administration to curtail the sector.

The French energy major said Monday that it had reached agreements with the U.S. Interior Department to relinquish two leases at Carolina Long Bay and New York Bight.

"As a result, TotalEnergies will no longer develop offshore wind projects in the United States," it said.

The company will recover the lease fees it paid, and will invest an equal amount in the development of U.S. gas production and exports, it said.

Offshore wind is too costly in the U.S., TotalEnergies said.

"Since other technologies are available to meet the growing demand for electricity in the United States in a more affordable way, TotalEnergies considers there is no need to allocate capital to this technology in the U.S.," the company said.

President Trump has long opposed offshore wind developments and his administration has become embroiled in legal challenges with European energy companies including Denmark's Orsted and Norway's Equinor, which have sought to overturn the administration's order for construction to be halted on all U.S. offshore wind projects.

Write to Joshua Kirby at joshua.kirby@wsj.com; @joshualeokirby

(END) Dow Jones Newswires

March 23, 2026 12:41 ET (16:41 GMT)